https://www.taxtmi.com/caselaws?id=32208 The court held that insurance, freight, and export inspection agency charges were not eligible for weighted deduction under Section 35B of the Income Tax Act, 1961, based on precedents. It was also determined that revised rates of depreciation effective after the financial year's start do not apply to assessments for that year. Additionally, interest paid on export packing credit loans was not deductible under Section 35B(1)(b)(viii) as it did not qualify as expenditure on services performed outside India. The court ruled against the assessee on all issues, in favor of the revenue, with no costs awarded. en-us Tue, 13 Jan 2009 00:00:00 +0530 Wed, 23 Jun 2010 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32208 The court held that insurance, freight, and export inspection agency charges were not eligible for weighted deduction under Section 35B of the Income Tax Act, 1961, based on precedents. It was also determined that revised rates of depreciation effective after the financial year's start do not apply to assessments for that year. Additionally, interest paid on export packing credit loans was not deductible under Section 35B(1)(b)(viii) as it did not qualify as expenditure on services performed outside India. The court ruled against the assessee on all issues, in favor of the revenue, with no costs awarded. Case-Laws Income Tax Tue, 13 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32208