https://www.taxtmi.com/caselaws?id=63440 The Tribunal upheld the decision of the CIT (Appeals) and the Assessing Officer, dismissing the assessee's claim for weighted deduction under section 35B of the Income-tax Act for expenses related to executing foreign projects. It was ruled that the expenditure was not for promoting sales abroad but for fulfilling existing contracts. The Tribunal clarified that section 35B covers services and facilities, not just goods sales, emphasizing that expenses must be incurred solely for the specified purposes to qualify for the deduction. en-us Mon, 06 Apr 1992 00:00:00 +0530 Mon, 31 Jan 2011 10:14:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63440 The Tribunal upheld the decision of the CIT (Appeals) and the Assessing Officer, dismissing the assessee's claim for weighted deduction under section 35B of the Income-tax Act for expenses related to executing foreign projects. It was ruled that the expenditure was not for promoting sales abroad but for fulfilling existing contracts. The Tribunal clarified that section 35B covers services and facilities, not just goods sales, emphasizing that expenses must be incurred solely for the specified purposes to qualify for the deduction. Case-Laws Income Tax Mon, 06 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63440