1998 (3) TMI 79 - HC - Income Tax

Summary

The High Court of Madras ruled that the assessee is not entitled to claim weighted deduction under section 35B of the Income-tax Act for various expenditure items, including shipping and harbouring charges, export air freight charges, insurance charges, and export handling charges. The court held that the assessee is not eligible for the deduction based on previous judgments and the express prohibition under the Act. The common question of law was answered in favor of the Revenue, and the assessee was ordered to pay costs of Rs. 750.