9911796707
TMI Blog1999 (4) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... on on modern techniques and methods of agriculture designed for increasing the yield of rice amongst the cultivators and farmers who grow rice - held that assessee-company was entitled to weighted deduction under section 35-C. - - - - - Dated:- 13-4-1999 - S. P. BHARUCHA. and R. C. LAHOTI. JUDGMENT The judgment of the court was delivered by R. C. LAHOTI J.----- In a reference under se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -8, 1973, and at 50 per cent. on Rs. 42,207 being export promotion expenses from March 1, 1973, to November 30, 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 per cent. of the amount of Rs. 20,706 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial of any product of agriculture, etc., in the manufacture or processing. The assessee manufactures an animal feed known as "AUROFAC" wherein rice husk is mainly used as raw material. The deductions claimed by the assessee were in respect of the expenditure incurred by it in disseminating literature, pamphlets, etc., containing information on modern techniques and methods of agriculture designed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ricultural operation and such changes as are brought about in the product are an outcome of agricultural operation. Both rice and husk remain in their natural form as a result of de-husking and are covered by the term "agricultural product". The High Court has also formed an opinion that section 35C of the Income-tax Act, 1961, was designed to encourage development of agriculture and, therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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