https://www.taxtmi.com/caselaws?id=58516 The Tribunal allowed the claim for interest on export packing credit but rejected the claim for weighted deduction on medium-term export post-shipment credit under s. 35B. It emphasized the need for a direct connection between expenditure and export contracts outside India. The Tribunal upheld the CIT(A)'s decision on the constitutional validity of retrospective amendments in s. 80J and s. 35, declining to interfere. The ITO's computation of relief under s. 80J was deemed correct, supported by a Supreme Court decision. Regarding depreciation on capital assets for scientific research, the Tribunal allowed the appeal in part, suggesting a potential renewal of the claim if provisions were invalidated by the Supreme Court. en-us Tue, 18 Oct 1988 00:00:00 +0530 Mon, 20 Dec 2010 13:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58516 The Tribunal allowed the claim for interest on export packing credit but rejected the claim for weighted deduction on medium-term export post-shipment credit under s. 35B. It emphasized the need for a direct connection between expenditure and export contracts outside India. The Tribunal upheld the CIT(A)'s decision on the constitutional validity of retrospective amendments in s. 80J and s. 35, declining to interfere. The ITO's computation of relief under s. 80J was deemed correct, supported by a Supreme Court decision. Regarding depreciation on capital assets for scientific research, the Tribunal allowed the appeal in part, suggesting a potential renewal of the claim if provisions were invalidated by the Supreme Court. Case-Laws Income Tax Tue, 18 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58516