https://www.taxtmi.com/caselaws?id=58713 The Tribunal partly allowed both the appeals of the assessee and the Revenue in a case involving weighted deduction under section 35B, entertainment expenses disallowance, and interest disallowance under section 40(b). The Tribunal upheld the CIT (A)'s decision on certain expenses but directed corrections in the calculation of weighted deduction and allowed a claim for exchange rate loss under section 35B. The disallowance of entertainment expenses was overturned based on precedents from High Courts. However, the Tribunal ruled in favor of the Revenue on the dispute regarding interest disallowance under section 40(b). en-us Wed, 07 Nov 1979 00:00:00 +0530 Tue, 21 Dec 2010 16:37:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58713 The Tribunal partly allowed both the appeals of the assessee and the Revenue in a case involving weighted deduction under section 35B, entertainment expenses disallowance, and interest disallowance under section 40(b). The Tribunal upheld the CIT (A)'s decision on certain expenses but directed corrections in the calculation of weighted deduction and allowed a claim for exchange rate loss under section 35B. The disallowance of entertainment expenses was overturned based on precedents from High Courts. However, the Tribunal ruled in favor of the Revenue on the dispute regarding interest disallowance under section 40(b). Case-Laws Income Tax Wed, 07 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58713