https://www.taxtmi.com/caselaws?id=18969 The court ruled in favor of the assessee, holding that they are entitled to the weighted deduction under section 35B(1)(b)(iii) for expenditure on transport of goods and marine insurance. The court clarified that the expenditure on carriage of goods and insurance need not necessarily be incurred outside India, emphasizing fair competition among manufacturers. The Tribunal's requirement for the expenditure to be incurred outside India was deemed erroneous, and the court highlighted the legislative intent and the need for a balanced interpretation. No costs were awarded in this case. en-us Mon, 03 Apr 1995 00:00:00 +0530 Tue, 03 Nov 2009 11:22:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18969 The court ruled in favor of the assessee, holding that they are entitled to the weighted deduction under section 35B(1)(b)(iii) for expenditure on transport of goods and marine insurance. The court clarified that the expenditure on carriage of goods and insurance need not necessarily be incurred outside India, emphasizing fair competition among manufacturers. The Tribunal's requirement for the expenditure to be incurred outside India was deemed erroneous, and the court highlighted the legislative intent and the need for a balanced interpretation. No costs were awarded in this case. Case-Laws Income Tax Mon, 03 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18969