1991 (12) TMI 17 - HC - Income Tax

Summary

The High Court of Gujarat rejected the assessee's claim for weighted deduction under section 35B of the Income-tax Act, 1961 for transport charges, insurance, and shipping and forwarding charges incurred in connection with the distribution or supply of exported goods. The claim was denied as the expenditure incurred in India or on the carriage or insurance of goods exported outside India did not qualify for weighted deduction. The Tribunal and taxing authorities were justified in rejecting the claim. The question referred to the court was answered in the affirmative against the assessee.