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2009 (1) TMI 5 - HC - Income TaxPacking credit - loan or advance for the purpose of purchase, processing and packing of goods - weighted deduction u/s 35B - Section 35B(1)9b)(viii) operates only when there is a performance of services outside India - Mere obtaining of a packing credit loan or payment of interest thereon in India cannot be said to entail the performance of any service outside India - weighted deduction under Section 35B(1)(b)(viii) on interest paid on export packing credit loans will not be deductible
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