https://www.taxtmi.com/caselaws?id=20398 The High Court ruled in favor of the Revenue, holding that the Tribunal erred in allowing the assessee's claim for weighted deduction for interest on packing credit without establishing a factual connection to an export contract. The Court emphasized the necessity of evaluating evidence and criticized the Tribunal for solely relying on a previous court decision. The High Court directed the Tribunal to reassess the appeal, stressing the importance of establishing a clear link between the expenditure and the execution of an export contract before granting tax deductions. en-us Thu, 01 Jul 1993 00:00:00 +0530 Fri, 13 Nov 2009 16:46:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20398 The High Court ruled in favor of the Revenue, holding that the Tribunal erred in allowing the assessee's claim for weighted deduction for interest on packing credit without establishing a factual connection to an export contract. The Court emphasized the necessity of evaluating evidence and criticized the Tribunal for solely relying on a previous court decision. The High Court directed the Tribunal to reassess the appeal, stressing the importance of establishing a clear link between the expenditure and the execution of an export contract before granting tax deductions. Case-Laws Income Tax Thu, 01 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20398