1987 (6) TMI 13 - HC - Income Tax

Amounts Deductible, Business Expenditure, Contribution To Employees Welfare Trust, Export Market Development Allowance, Weighted Deduction

Summary

The petitioner sought referral of two questions of law regarding trust deed contributions and deductibility under section 35B of the Income-tax Act. The court found that no trust had been created when funds were transferred, making the contributions not allowable expenditure. The court also determined that the deductibility issue was covered by previous decisions, leading to the dismissal of the petitioner's plea. The original petitions were dismissed as without merit and no costs were awarded.