1994 (4) TMI 71 - HC - Income Tax

Summary

The High Court of Rajasthan held that the assessee is not entitled to weighted deduction under section 35B of the Income-tax Act as they do not own a small scale industrial undertaking with plant or machinery for manufacturing precious stones. This decision was based on a previous case and lack of evidence of ownership of plant or machinery by the assessee. The question posed was answered in favor of the Revenue and against the assessee.