https://www.taxtmi.com/caselaws?id=26053 The High Court of Karnataka ruled against the assessee, a government company, in a case concerning the interpretation of Section 35B of the Income-tax Act. The court held that the expenditure on foreign travels and rent at export exhibitions did not align with the business activities specified in the company's memorandum of association, thus disallowing the weighted deduction claimed under the Act. The court emphasized the requirement for the expenditure to be connected to the business activities to qualify for the deduction, ultimately upholding the Tribunal's decision and directing each party to bear its own costs. en-us Mon, 07 Apr 1986 00:00:00 +0530 Tue, 02 Feb 2010 14:24:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26053 The High Court of Karnataka ruled against the assessee, a government company, in a case concerning the interpretation of Section 35B of the Income-tax Act. The court held that the expenditure on foreign travels and rent at export exhibitions did not align with the business activities specified in the company's memorandum of association, thus disallowing the weighted deduction claimed under the Act. The court emphasized the requirement for the expenditure to be connected to the business activities to qualify for the deduction, ultimately upholding the Tribunal's decision and directing each party to bear its own costs. Case-Laws Income Tax Mon, 07 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26053