https://www.taxtmi.com/caselaws?id=20315 The court ruled that the premium paid to the Export Credit Guarantee Corporation qualifies for weighted deduction under section 35B of the Income-tax Act as it pertains to obtaining market information about foreign buyers. Additionally, expenses incurred in presenting curios and providing lodging to foreign buyers were classified as entertainment expenditure under section 37(2) based on the broad definition of hospitality provided by Explanation 2 and the Full Bench decision in Veeriah Reddiar's case. en-us Wed, 22 Sep 1993 00:00:00 +0530 Fri, 13 Nov 2009 12:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20315 The court ruled that the premium paid to the Export Credit Guarantee Corporation qualifies for weighted deduction under section 35B of the Income-tax Act as it pertains to obtaining market information about foreign buyers. Additionally, expenses incurred in presenting curios and providing lodging to foreign buyers were classified as entertainment expenditure under section 37(2) based on the broad definition of hospitality provided by Explanation 2 and the Full Bench decision in Veeriah Reddiar's case. Case-Laws Income Tax Wed, 22 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20315