https://www.taxtmi.com/caselaws?id=34210 The Court held that the assessee was not entitled to deduction under Clause (viii) for sea freight expenditure as it was specifically excluded under Clause (iii) of Section 35B(1)(b) of the Income Tax Act, 1961. The Court emphasized statutory interpretation principles and ruled in favor of the revenue, overruling previous judgments that allowed such deductions. The matter was referred back to the Division Bench for further proceedings. en-us Fri, 03 Jul 2009 00:00:00 +0530 Wed, 19 Aug 2009 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34210 The Court held that the assessee was not entitled to deduction under Clause (viii) for sea freight expenditure as it was specifically excluded under Clause (iii) of Section 35B(1)(b) of the Income Tax Act, 1961. The Court emphasized statutory interpretation principles and ruled in favor of the revenue, overruling previous judgments that allowed such deductions. The matter was referred back to the Division Bench for further proceedings. Case-Laws Income Tax Fri, 03 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34210