https://www.taxtmi.com/caselaws?id=57626 The Tribunal dismissed the assessee's appeals regarding weighted deduction under section 35B of the Income-tax Act on interest paid to banks for packing loans and export bills. It held that interest on packing credit loans did not qualify for weighted deduction as it was not considered an expenditure incurred for obtaining credit under section 35B(1)(b)(viii). The Tribunal differentiated between various types of loans and eligible expenditures for weighted deduction, aligning with the decision of the Karnataka High Court. en-us Thu, 29 Nov 1984 00:00:00 +0530 Sat, 11 Dec 2010 12:02:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57626 The Tribunal dismissed the assessee's appeals regarding weighted deduction under section 35B of the Income-tax Act on interest paid to banks for packing loans and export bills. It held that interest on packing credit loans did not qualify for weighted deduction as it was not considered an expenditure incurred for obtaining credit under section 35B(1)(b)(viii). The Tribunal differentiated between various types of loans and eligible expenditures for weighted deduction, aligning with the decision of the Karnataka High Court. Case-Laws Income Tax Thu, 29 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57626