https://www.taxtmi.com/caselaws?id=14816 The court held that the assessee was not entitled to weighted deduction under section 35B of the Income-tax Act, as the expenditure did not fall under the specified sub-clauses. The court emphasized the assessee's burden to prove eligibility for the deduction. Regarding the calculation of disallowance under section 40A(8), the court ruled that gross interest, not net interest, should be considered for disallowance. The decision aligned with statutory language and precedent, rejecting the Tribunal's interpretation. The case was concluded without costs. en-us Tue, 28 Apr 1998 00:00:00 +0530 Sat, 18 Jul 2009 18:10:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14816 The court held that the assessee was not entitled to weighted deduction under section 35B of the Income-tax Act, as the expenditure did not fall under the specified sub-clauses. The court emphasized the assessee's burden to prove eligibility for the deduction. Regarding the calculation of disallowance under section 40A(8), the court ruled that gross interest, not net interest, should be considered for disallowance. The decision aligned with statutory language and precedent, rejecting the Tribunal's interpretation. The case was concluded without costs. Case-Laws Income Tax Tue, 28 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14816