2006 (9) TMI 164

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....have been referred for opinion of this Court by the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh, arising out of its order dated 08.09.1988 in R.A. No.9/Chandi/89 in respect of assessment year 1980-81:- "1. Whether on the facts and in the circumstances of the case on a proper interpretation of section 35B of the Income-tax Act, 1961, the Appellate Tribunal was right in law in all....

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....ary and bonus, salary, security and guard, printing and stationery, postage, telephone and telegrams and advertisements etc. 3. The Assessing Officer disallowed the said claim, but the CIT (A) allowed the same, which was upheld by the Tribunal. The Tribunal also allowed weighted deduction under Section 35B of the Income-tax Act, 1961 (for short, "the Act") in respect of packing credit interest.....

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.... a finding as to the entitlement of the assessee with reference to the particulars of clause (b) of section 35B(1). The facts have to be found out and the law has to be applied to those facts. It appears that generally a certain percentage of the claim has been allowed under section 35B without adverting to any of the sub-clauses of clause (b) of section 35B(1). Under those circumstances, we think....