1998 (2) TMI 21

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..... as to whether the Appellate Tribunal was correct in law on the facts and in the circumstances of the case in holding that the bank interest paid on packing credit within India is eligible for weighted deduction under section 35B of the Income Tax Act, 1961 (hereinafter referred to as "the Act"). The assessment year is 1979-80. The assessee is a manufacturer of garments and leathers and they cl .....

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..... utside India or an expenditure which was incurred in the performance of service rendered outside India or in connection with or incidental to the execution of any contract for the supply of the goods outside India. We are in agreement with the view expressed by the Division Bench of this court in Lucas-TVS Ltd. v. CIT (1996) 217 ITR 382. We, accordingly, answer the question referred to us in th .....

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