https://www.taxtmi.com/caselaws?id=16083 The Supreme Court ruled in favor of the Revenue in a case concerning the entitlement to export markets development allowance under section 35B of the Income-tax Act, 1961. The court emphasized the need for specific examination of each case to determine if the expenditure qualifies for deduction. Expenses like bank commission, interest on foreign bills, transit insurance charges, and carriage outward expenses were deemed ineligible for deduction. Additionally, expenditures on hotel bills, dinner for dealers, and payments to the Diners Club were considered entertainment expenditures and disallowed. The court's detailed analysis led to a ruling in favor of the Revenue on both issues. en-us Wed, 02 Dec 1998 00:00:00 +0530 Tue, 01 Sep 2009 10:13:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16083 The Supreme Court ruled in favor of the Revenue in a case concerning the entitlement to export markets development allowance under section 35B of the Income-tax Act, 1961. The court emphasized the need for specific examination of each case to determine if the expenditure qualifies for deduction. Expenses like bank commission, interest on foreign bills, transit insurance charges, and carriage outward expenses were deemed ineligible for deduction. Additionally, expenditures on hotel bills, dinner for dealers, and payments to the Diners Club were considered entertainment expenditures and disallowed. The court's detailed analysis led to a ruling in favor of the Revenue on both issues. Case-Laws Income Tax Wed, 02 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16083