2001 (2) TMI 20

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..... sub-clauses of section 35B of the Income-tax Act, 1961. That claim has rightly been dis allowed. The first question is answered against the assessee. It has been held in the case of CIT v. Stepwell Industries Ltd. that the benefit of section 35B of the Act can be claimed only if the expenditure incur red can be brought under any one of the sub-clauses of that section. - second question is concern .....

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..... . [1997] 228 ITR 171 (SC), that the benefit of section 35B of the Act can be claimed only if the expenditure incur red can be brought under any one of the sub-clauses of that section. So far as the second question is concerned, it concerns the claim for weighted deduction for steamer freight and insurance of CIF contract. The fact that the contract was CIF, and that the expenditure on steamer fr .....

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..... sessment year. The sub-clause which could have been invoked, and has been invoked is sub-clause (viii) of the Act. Sub-clause (viii) has to be construed on its own terms. That sub-clause in express terms provides as under: "performance of services outside India in connection with, or incidental to, the execution of any contract for the supply outside India of such goods, services or facilities." .....

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