https://www.taxtmi.com/caselaws?id=345902 The Supreme Court held that Mr. Jack Barouk was considered an agent of the assessee for the purpose of claiming a weighted deduction under Section 35B(1)(b)(iv) of the Income Tax Act, 1961. The Court found that the agreement between the parties established his role as an agent, supported by the Reserve Bank of India's approval. Consequently, the appellant met all conditions for the deduction, leading to the allowance of the appeal and reinstatement of the Income Tax Appellate Tribunal's decision, overturning the High Court's ruling. en-us Wed, 05 Apr 2017 00:00:00 +0530 Tue, 01 Aug 2017 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345902 The Supreme Court held that Mr. Jack Barouk was considered an agent of the assessee for the purpose of claiming a weighted deduction under Section 35B(1)(b)(iv) of the Income Tax Act, 1961. The Court found that the agreement between the parties established his role as an agent, supported by the Reserve Bank of India's approval. Consequently, the appellant met all conditions for the deduction, leading to the allowance of the appeal and reinstatement of the Income Tax Appellate Tribunal's decision, overturning the High Court's ruling. Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345902