https://www.taxtmi.com/caselaws?id=11288 The High Court of Allahabad ruled against the assessee in an income-tax reference case concerning the interpretation of section 35B of the Income-tax Act, 1961. The court determined that counter sales within India, even if conducted against foreign currency, do not qualify as export sales for claiming weighted deduction under section 35B. Sales must occur outside India to be eligible for the deduction, as specified in the relevant provisions. Therefore, the court held that the assessee's sales within India did not meet the criteria for weighted deduction under section 35B, siding with the Department in this matter. en-us Tue, 23 Sep 2003 00:00:00 +0530 Tue, 04 Aug 2009 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11288 The High Court of Allahabad ruled against the assessee in an income-tax reference case concerning the interpretation of section 35B of the Income-tax Act, 1961. The court determined that counter sales within India, even if conducted against foreign currency, do not qualify as export sales for claiming weighted deduction under section 35B. Sales must occur outside India to be eligible for the deduction, as specified in the relevant provisions. Therefore, the court held that the assessee's sales within India did not meet the criteria for weighted deduction under section 35B, siding with the Department in this matter. Case-Laws Income Tax Tue, 23 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11288