Bombay High Court Dismisses Assessee's Claim for Weighted Deduction Under Section 35B of Income Tax Act — Subcontractor Not Entitled to Export Markets Development Allowance for Services Rendered to Indian Main Contractor. The court held that the assessee, as a subcontractor to an Indian company, did not incur expenditure for its own export business and thus could not claim weighted deduction under Section 35B.
13 Oct 2016The case involves an income tax reference under Section 256(1) of the Income Tax Act, 1961, arising from the assessment year 1979-80. The assessee, Bo...
