https://www.taxtmi.com/caselaws?id=14876 The High Court of Kerala ruled against the assessee, stating that interest on packing credit did not qualify for weighted deduction under section 35B(1)(b)(viii) of the Income-tax Act. The court emphasized the necessity for the expenditure to be directly connected to services outside India in connection with the execution of a supply contract. As a result, the judgment favored the Revenue, denying the claimed deduction for the interest paid on packing credit related to manufacturing goods for export. en-us Fri, 12 Nov 1999 00:00:00 +0530 Thu, 23 Jul 2009 17:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14876 The High Court of Kerala ruled against the assessee, stating that interest on packing credit did not qualify for weighted deduction under section 35B(1)(b)(viii) of the Income-tax Act. The court emphasized the necessity for the expenditure to be directly connected to services outside India in connection with the execution of a supply contract. As a result, the judgment favored the Revenue, denying the claimed deduction for the interest paid on packing credit related to manufacturing goods for export. Case-Laws Income Tax Fri, 12 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14876