assessee by withdrawal from NABARD and
hence, in sub-section (6) of section 33AB of the Act any withdrawal made by assessee from
NABARD ... such sec. is
sec.32 , which allows deduction for depreciation determined at percentage of cost of an
asset specified therein. Sec.33A , 33AB allow deduction
manufacturing
and sale of tea) and the benefit of deduction under section
33AB of the Act can be allowed by treating the said interest
income
manufacture of tea in order to compute the
permissible deduction under Section 33AB . He submitted that the
aforesaid ... taken into account for the purpose of allowing deduction under
section 33AB of the Income Tax Act. Therefore, it appears to us
that the adequate
manufacturing
and sale of tea) and the benefit of deduction under section
33AB of the Act can be allowed by treating the said interest
income
have carefully gone through the provisions of
sections 30 to 36 . Section 30 relates to the allowability of
payment like rent, rates, taxes, repairs ... section 32AB is relating to investment deposit
account. Section 33 deals with development rebate, while
Section 33A deals with development allowance. Similarly,
Section 33AB deals
held that the same was
not an allowable expenditure u/s. 43B and for this reason only, even the
auditors did not certify this amount ... business and hence the benefit of Rule 8 and section 33AB would not be
allowed to the assessee. Against this, the assessee is in appeal
