https://www.taxtmi.com/caselaws?id=63639 The Tribunal upheld the ship broker's claim for weighted deduction under Sec. 35B for business expenses related to export services, rejecting the Income Tax Officer's denial based on expenses being incurred outside India. The Tribunal found the expenses necessary for export-related services, considering the nature of the business and proportion of claimed expenses, leading to a favorable judgment for the assessee. The High Court dismissed the reference application as the Tribunal's decision was factual and supported by the law, resulting in the failure of the reference application and a win for the assessee. en-us Sat, 30 Aug 1980 00:00:00 +0530 Tue, 01 Feb 2011 12:00:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63639 The Tribunal upheld the ship broker's claim for weighted deduction under Sec. 35B for business expenses related to export services, rejecting the Income Tax Officer's denial based on expenses being incurred outside India. The Tribunal found the expenses necessary for export-related services, considering the nature of the business and proportion of claimed expenses, leading to a favorable judgment for the assessee. The High Court dismissed the reference application as the Tribunal's decision was factual and supported by the law, resulting in the failure of the reference application and a win for the assessee. Case-Laws Income Tax Sat, 30 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63639