https://www.taxtmi.com/caselaws?id=28303 The High Court upheld the Tribunal's decision to deny weighted deduction u/s 35B of the I.T. Act, 1961, as the expenses were incurred in India, not abroad as required. The Court also affirmed the Tribunal's treatment of devaluation gain as a trading receipt. Regarding the deduction of provision for gratuity, the matter was remanded back to the ITO for further examination based on Supreme Court guidelines. The High Court disposed of the references on all three points, with no order as to costs due to mixed results. en-us Tue, 02 Feb 1982 00:00:00 +0530 Sat, 20 Feb 2010 12:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28303 The High Court upheld the Tribunal's decision to deny weighted deduction u/s 35B of the I.T. Act, 1961, as the expenses were incurred in India, not abroad as required. The Court also affirmed the Tribunal's treatment of devaluation gain as a trading receipt. Regarding the deduction of provision for gratuity, the matter was remanded back to the ITO for further examination based on Supreme Court guidelines. The High Court disposed of the references on all three points, with no order as to costs due to mixed results. Case-Laws Income Tax Tue, 02 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28303