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TMI Blog1992 (5) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal is legally correct in holding that borrowed capital should not be excluded in computing the capital employed for the purpose of section 80J ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal is legally correct in holding that for the purpose of section 80 , average of the capital employed during the entire accounting year should be taken into account and not only the capital employed as on the first day of the relevant accounting year ? 3. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal erred in law in holding that for the purposes of computation of capital under section 80J the depreciable assets should be taken at the written down value and not at the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eighted deduction only on foreign travelling and that too to the extent of Rs. 46,133. The Appellate Assistant Commissioner upheld the order of the Income-tax Officer in respect of the assessment year 1974-75. However, for the assessment year 1975-76, the Commissioner of Income-tax (Appeals) allowed weighted deduction on the expenditure on salaries to the extent of Rs. 81,028. Out of the expenditure of Rs. 49,665 on postage, telephone, telex, travelling and conveyance, and printing and stationery, the Commissioner of Income-tax (Appeals) allowed weighted deduction at the rate of 25 per cent. of the said expenditure, i.e., Rs. 12,416. Further appeals were filed to the Tribunal by both the parties. In respect of the assessment year 1974-7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal directed that weighted deduction should be allowed on 75 per cent. of the expenditure of Rs. 1,62,056. On the expenditure of Rs. 49,665 incurred on postage, telephone, telex, travelling and conveyance and stationery, the Commissioner of Income-tax (Appeals) had allowed weighted deduction to the extent of 25 per cent. of the said expenditure but the Tribunal directed that weighted deduction should be allowed on 50 per cent. of the expenditure of Rs. 49,665. While considering the allowability of weighted deduction on commission of Rs. 95,633, the Tribunal agreed with the Commissioner of Income-tax (Appeals) that weighted deduction was not admissible on the expenditure of Rs. 70,993. The Tribunal, however, allowed weighted deduction on co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid decision in CIT v. Usha Sales Ltd. (No. 1) [1990] 182 ITR 452 (Delhi), it was held that similar question was a question of fact. To the same effect is a decision reported as CIT v. Usha Sales Ltd. (No. 2) [1990] 182 ITR 453 (Delhi). Thereafter this court again had an occasion to consider an application under section 256(2) of the Act, where a similar question of law was sought to be raised, and in CIT v. Indian Aluminium Cables Ltd. (No. 2) [1990] 184 ITR 587, a Division Bench of this court came to the conclusion that the question proposed was a question of fact. Lastly in the case CIT v. Electric Construction and Equipment Co. Ltd. (No. 1) [1990] 185 ITR 147 (Delhi), it was again held that the Tribunal's finding that the expenditure in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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