https://www.taxtmi.com/caselaws?id=63623 Subscription paid to an employees' union was treated as allowable business expenditure because it was incurred to maintain business relations with the bank and had a direct nexus with commercial expediency. For weighted deduction, legal charges paid to the Export Goods Promotion Council and export inspection charges were held fully eligible, and a larger portion of other export-related expenses was also brought within the export-incentive relief because export sales formed a very high share of total sales. Currency fluctuation loss linked to export receipts was held outside the specified categories for weighted deduction, so it remained ineligible under the export-incentive provision. en-us Tue, 26 Aug 1980 00:00:00 +0530 Tue, 01 Feb 2011 11:20:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63623 Subscription paid to an employees' union was treated as allowable business expenditure because it was incurred to maintain business relations with the bank and had a direct nexus with commercial expediency. For weighted deduction, legal charges paid to the Export Goods Promotion Council and export inspection charges were held fully eligible, and a larger portion of other export-related expenses was also brought within the export-incentive relief because export sales formed a very high share of total sales. Currency fluctuation loss linked to export receipts was held outside the specified categories for weighted deduction, so it remained ineligible under the export-incentive provision. Case-Laws Income Tax Tue, 26 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63623