Whether on the facts and in the circumstances of the case the assessee was entitled to claim deduction from income tax in respect of deoiled cakes exported or sold to exporters by it under section 2 4 a ii and iii and section 2 4 c of the Finance Act, 1967 read with Item No.
With a view to encourage export of industrial goods, the Finance Acts of 1966 and 1967 provided an additional incentive.
28 of the First Schedule to the Industries Development and Regulation Act, 1951 for the assessment year 1967 68?
The appellant assessee is a registered partnership firm engaged in the manufacture of groundnut oil at Verval.
2 mineral oil crude oil motor and aviation spirit, diesel oil, kerosene oil, and fuel on diverse hydrocarbon oils and their blends including synthetic fuels, lubricating oils and the like.
Fuel gases companyl gas, natural gas and the like .
28 of the First Schedule to the Industries Development and Regulation Act, 1951 for the assessment year 1966 67?
The two questions stated for the opinion of the High Court under Section 256 1 are Whether on the facts and in the circumstances of the case, the assessee was entitled to claim deduction from tax in respect of deoiled cakes exported or sold to exporters by it under section 2 5 a ii and iii and Section 2 5 c of the Finance Act, 1966 read with item No.
P. JEEVAN REDDY,J. These appeals are preferred by the assessee against the judgment of the Gujarat High Court answering the two questions referred to it, at the instance of the Revenue, in favour of the Revenue and against the assessee.
