https://www.taxtmi.com/caselaws?id=16950 The court ruled in favor of the Revenue, rejecting the assessee's claim for weighted deduction on insurance charges and ocean freight under section 35B of the Income-tax Act, 1961. The judgment emphasized that specific expenditures excluded from one sub-clause cannot be claimed under a general provision, aligning with the strict interpretation approach of the Bombay High Court over the liberal approach of the Punjab and Haryana High Court. The decision underscored the importance of consistent statutory interpretation and adherence to specific exclusions in the law. en-us Thu, 05 Mar 1998 00:00:00 +0530 Mon, 14 Sep 2009 12:26:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16950 The court ruled in favor of the Revenue, rejecting the assessee's claim for weighted deduction on insurance charges and ocean freight under section 35B of the Income-tax Act, 1961. The judgment emphasized that specific expenditures excluded from one sub-clause cannot be claimed under a general provision, aligning with the strict interpretation approach of the Bombay High Court over the liberal approach of the Punjab and Haryana High Court. The decision underscored the importance of consistent statutory interpretation and adherence to specific exclusions in the law. Case-Laws Income Tax Thu, 05 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16950