1991 (12) TMI 17

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....ssment year under reference is 1977-78, the previous year being Samvat year 2032. The assessee, registered partnership firm, claimed weighted deduction under section 35B of the Income-tax Act, 1961 ( " the Act " for short ), in respect of the following items of expenditure in the course of its assessment : (Rs.) (i) Transport charges 24,232 (ii) Insurance 12,827 (iii) Shipping and forw....

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....sub-clause (iii) of section 35B(1)(b) since this expenditure is in connection with distribution or supply of the goods exported. The said provision, however, makes it clear that expenditure incurred in India or the expenditure incurred on the carriage of the goods exported to their destination outside India or on the insurance of such goods while in transit would not qualify for weighted deduction....