1999 (2) TMI 688 - HC - Income Tax

Summary

The Madras High Court considered two cases regarding weighted deduction under section 35B(1)(iii) of the Income-tax Act. The Court referred to previous decisions and ruled that the assessee is not entitled to weighted deduction on packing materials based on precedent. The Court also noted that a previous decision was overruled by the Supreme Court, leading to a resolution of the controversy.