https://www.taxtmi.com/caselaws?id=11119 The Tribunal ruled in favor of the assessee regarding the entitlement to weighted deduction under section 35B for expenses like foreign travel, advertisement, and foreign branch expenses. The Supreme Court precedent clarified that exports need not be ex-India to avail of weighted deduction benefits. Therefore, the Tribunal's decision in favor of the assessee is justified. However, the treatment of interest received from short-term deposits of surplus funds as 'business income' was rejected, following legal precedents that such interest should be assessed as 'income from other sources.' en-us Mon, 04 Feb 2002 00:00:00 +0530 Fri, 31 Jul 2009 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11119 The Tribunal ruled in favor of the assessee regarding the entitlement to weighted deduction under section 35B for expenses like foreign travel, advertisement, and foreign branch expenses. The Supreme Court precedent clarified that exports need not be ex-India to avail of weighted deduction benefits. Therefore, the Tribunal's decision in favor of the assessee is justified. However, the treatment of interest received from short-term deposits of surplus funds as 'business income' was rejected, following legal precedents that such interest should be assessed as 'income from other sources.' Case-Laws Income Tax Mon, 04 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11119