https://www.taxtmi.com/caselaws?id=16527 The High Court ruled against the assessee on all three issues, favoring the Revenue's stance. The court held that the assessee was not entitled to investment allowance on the additional liability arising from exchange rate fluctuations, denied deduction under section 35B for packing credit interest, and classified the additional liability as capital expenditure rather than revenue expenditure. en-us Thu, 05 Mar 1998 00:00:00 +0530 Tue, 08 Sep 2009 13:12:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16527 The High Court ruled against the assessee on all three issues, favoring the Revenue's stance. The court held that the assessee was not entitled to investment allowance on the additional liability arising from exchange rate fluctuations, denied deduction under section 35B for packing credit interest, and classified the additional liability as capital expenditure rather than revenue expenditure. Case-Laws Income Tax Thu, 05 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16527