Judgment

R.C. Lahoti, J.-In a reference under Section 256 of the Income-tax Act, 1961, the following three questions amongst others were answered by the High Court in favour of the assessee and against the Revenue:-

For Assessment Years 1974-75 and 1975-76.

4. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was not entitled to deduction of Rs. 66,352/- plus Rs. 1,60,428/- for assessment year 1974-75 and Rs. 2,00,599/- for the assessment year 1975-76 under Section 35C of the Income Tax Act, 1961?

For Assessment Year 1974-75.

6. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee’s claim for weighted deduction at 33 1/3% being export promotion expenses incurred from 1.12.1972 to 28.2.1973 and at 50% on Rs. 42,207/- being export promo­tion expenses from 1.3.1973 to 30.11.1973 ought not to be allowed?

For Assessment Year 1975-76.

8. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the weighted deduction under Sec­tion 35B of the Income-tax Act, 1961 on only 50% of the amount of Rs. 20,706/- ought to be allowed?

2. There we