2002 (4) TMI 47

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....livered by JAWAHAR LAL GUPTA J.-The Tribunal has referred the following two questions for the opinion of this court "(i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing weighted deduction on bank interest on packing credit? (ii) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in allow....

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....r incidental to, the execution of" a contract. The said contract should be for the supply of goods or providing services or facilities outside India. In the present case, nothing has been pointed out by counsel to show that the loan advanced by the bank was for the performance of any service or supply of goods or for the execution of a contract outside India. The payment is not shown to have been ....