- (1.) In a reference under Section 256 of the Income-tax Act, 1961, the following three questions amongst others were answered by the High Court in favour of the assessee and against the Revenue :- For Assessment Years 1974-75 and 1975-76 4. Whether, on the facts and in the cir-cumstances of the case, the Tribunal was right in holding that the assessee was not entitled to deduction of Rs. 66,352/- plus Rs. 1,60,428/- for assessment year 1974-75 and Rs. 2,00,599/- for the assessment year 1975-76 under Section 35C of the Income-tax Act, 1961 For Assessment Year 1974-75 6. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee's claim for weighted deduction at 33 1/3% being export promotion expenses incurred from 1-12-1972 to 28-2-1973 and at 50% on Rs. 42,207/- being export promotion expenses from 1-3-1973 to 30-11-1973 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% of the amount of Rs. 20,706/- ought to be allowed
(2.) There were in all eight questions forming subject-matter of reference before the High Court and as to which the Revenue had filed these appeals However, vide order dated 3-11-1995, this Court has entertained the appeals confined to abovesaid three questions only.
(3.) So far as question numbers 6 and 8 are concerned, at the very outset the learned counsel for the Revenue has very fairly stated that the quantum of revenue involved is very small and therefore the Revenue does not press the appeals to that extent. He has made his submissions confined to question No. 4 only.;