https://www.taxtmi.com/caselaws?id=15134 The High Court directed the Tribunal to reconsider whether the expenditure of Rs. 58,000 on construction and security could be treated as revenue loss. It held that expenses on foreign buyers' hospitality were not eligible for weighted deduction under section 35B(1)(b) of the Income-tax Act, aligning with the Revenue's position. The judgment underscored the importance of adhering to statutory provisions for claiming deductions and analyzing expenses meticulously to determine their tax treatment. en-us Fri, 24 Dec 1999 00:00:00 +0530 Mon, 03 Aug 2009 12:22:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15134 The High Court directed the Tribunal to reconsider whether the expenditure of Rs. 58,000 on construction and security could be treated as revenue loss. It held that expenses on foreign buyers' hospitality were not eligible for weighted deduction under section 35B(1)(b) of the Income-tax Act, aligning with the Revenue's position. The judgment underscored the importance of adhering to statutory provisions for claiming deductions and analyzing expenses meticulously to determine their tax treatment. Case-Laws Income Tax Fri, 24 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15134