https://www.taxtmi.com/caselaws?id=20436 The court upheld the disallowance of weighted deduction for interest paid on post-shipment loans and professional charges for designing the export contract. It emphasized that the expenses must be incurred wholly and exclusively on services outside India in connection with contracts for supply outside India to qualify for deduction under section 35B(1) of the Income-tax Act. As the expenditures did not meet these criteria, the court affirmed the Tribunal's decision in favor of the Revenue, highlighting the necessity of providing sufficient evidence to support deduction claims. en-us Thu, 07 Oct 1993 00:00:00 +0530 Tue, 12 Jul 2016 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20436 The court upheld the disallowance of weighted deduction for interest paid on post-shipment loans and professional charges for designing the export contract. It emphasized that the expenses must be incurred wholly and exclusively on services outside India in connection with contracts for supply outside India to qualify for deduction under section 35B(1) of the Income-tax Act. As the expenditures did not meet these criteria, the court affirmed the Tribunal's decision in favor of the Revenue, highlighting the necessity of providing sufficient evidence to support deduction claims. Case-Laws Income Tax Thu, 07 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20436