1993 (9) TMI 13 - HC - Income Tax

Summary

The High Court of Bombay upheld the Income-tax Appellate Tribunal's decision that the assessee was not entitled to weighted deduction under section 35B of the Income-tax Act, 1961 for certain expenditures including bank interest, reassortment charges, assortment charges, and motor car expenses. The court found no material to support the claim for weighted deduction on assortment charges and ruled in favor of the Revenue. (Case citation: 1993 (9) TMI 13 - BOMBAY High Court)