https://www.taxtmi.com/caselaws?id=20525 The High Court of Gujarat ruled against the assessee's claim for export markets development allowance under section 35B of the Income-tax Act, 1961 for packing material and interest expenses. The Court held that the expenses did not qualify for weighted deduction under section 35B, as the packing material expenditure was incurred in India before export and the interest and bank charges did not meet the criteria specified in the Act. The Court upheld the Tribunal's decision, denying the claim and ruling in favor of the Revenue. en-us Thu, 05 Dec 1991 00:00:00 +0530 Sat, 14 Nov 2009 14:07:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20525 The High Court of Gujarat ruled against the assessee's claim for export markets development allowance under section 35B of the Income-tax Act, 1961 for packing material and interest expenses. The Court held that the expenses did not qualify for weighted deduction under section 35B, as the packing material expenditure was incurred in India before export and the interest and bank charges did not meet the criteria specified in the Act. The Court upheld the Tribunal's decision, denying the claim and ruling in favor of the Revenue. Case-Laws Income Tax Thu, 05 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20525