https://www.taxtmi.com/caselaws?id=23476 The High Court of Punjab and Haryana ruled in favor of the Revenue, denying the assessee's claim for weighted deduction on expenses such as inspection and supervision charges, bank charges, excise revenue stamps, and miscellaneous expenses related to export activities. The judgment clarified the restrictions on claiming deductions for certain expenses under section 35B of the Income-tax Act, in line with legislative provisions and judicial interpretations, emphasizing the legislative intent to incentivize exports while limiting deductions for expenses incurred within India or on the transportation and insurance of goods destined for export. en-us Wed, 20 Sep 1989 00:00:00 +0530 Sat, 19 Dec 2009 15:29:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23476 The High Court of Punjab and Haryana ruled in favor of the Revenue, denying the assessee's claim for weighted deduction on expenses such as inspection and supervision charges, bank charges, excise revenue stamps, and miscellaneous expenses related to export activities. The judgment clarified the restrictions on claiming deductions for certain expenses under section 35B of the Income-tax Act, in line with legislative provisions and judicial interpretations, emphasizing the legislative intent to incentivize exports while limiting deductions for expenses incurred within India or on the transportation and insurance of goods destined for export. Case-Laws Income Tax Wed, 20 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23476