https://www.taxtmi.com/caselaws?id=15384 The court held that the assessee's claim for weighted deduction under section 35B of the Income-tax Act was denied. The court found that the expenses incurred in negotiating export sale documents and realizing sale proceeds of exports outside India did not qualify for the deduction as the services provided by the banker were not directly connected to the supply of goods to the buyer. The court emphasized the need for the assessee to prove that the expenditure was wholly and exclusively for the purposes specified in the law, ultimately ruling in favor of the Revenue and awarding costs of Rs. 2,500. en-us Wed, 25 Mar 1998 00:00:00 +0530 Thu, 06 Aug 2009 12:00:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15384 The court held that the assessee's claim for weighted deduction under section 35B of the Income-tax Act was denied. The court found that the expenses incurred in negotiating export sale documents and realizing sale proceeds of exports outside India did not qualify for the deduction as the services provided by the banker were not directly connected to the supply of goods to the buyer. The court emphasized the need for the assessee to prove that the expenditure was wholly and exclusively for the purposes specified in the law, ultimately ruling in favor of the Revenue and awarding costs of Rs. 2,500. Case-Laws Income Tax Wed, 25 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15384