https://www.taxtmi.com/caselaws?id=25283 The High Court of Andhra Pradesh ruled in favor of the assessee, determining that the expenditure incurred on export credit guarantee insurance was eligible for weighted deduction under section 35B of the Income-tax Act. The court held that the expenditure for obtaining market information and payment to the export credit guarantee corporation fell within the specified sub-clauses of section 35B(1)(b). Emphasizing the importance of adhering to the criteria outlined in the Act, the court highlighted the need for a strict interpretation to incentivize export market development. en-us Wed, 05 Nov 1986 00:00:00 +0530 Wed, 27 Jan 2010 16:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25283 The High Court of Andhra Pradesh ruled in favor of the assessee, determining that the expenditure incurred on export credit guarantee insurance was eligible for weighted deduction under section 35B of the Income-tax Act. The court held that the expenditure for obtaining market information and payment to the export credit guarantee corporation fell within the specified sub-clauses of section 35B(1)(b). Emphasizing the importance of adhering to the criteria outlined in the Act, the court highlighted the need for a strict interpretation to incentivize export market development. Case-Laws Income Tax Wed, 05 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25283