https://www.taxtmi.com/caselaws?id=14412 Gross interest expenditure incurred in foreign branches was held to qualify for weighted deduction under section 35B of the Income-tax Act, 1961. The Madras High Court applied its earlier decision in the assessee-bank's own case, where the same claim had been accepted, and followed that reasoning to allow the deduction. The claim was therefore upheld in favour of the assessee and against the Revenue. en-us Wed, 14 Feb 2001 00:00:00 +0530 Wed, 15 Jul 2009 16:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14412 Gross interest expenditure incurred in foreign branches was held to qualify for weighted deduction under section 35B of the Income-tax Act, 1961. The Madras High Court applied its earlier decision in the assessee-bank's own case, where the same claim had been accepted, and followed that reasoning to allow the deduction. The claim was therefore upheld in favour of the assessee and against the Revenue. Case-Laws Income Tax Wed, 14 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14412