1997 (4) TMI 25 - HC - Income Tax

Summary

The High Court of Madras ruled that the assessee is entitled to claim weighted deduction under section 35B of the Income-tax Act for commission paid to the State Trading Corporation of India, but not for interest on packing credit. The court based its decision on a previous case involving Lucas TVS Ltd. The judgment was delivered by Judge N. V. Balasubramanian.