Court rules for Revenue in interest addition appeal under Income-tax Act

The High Court of Punjab & Haryana ruled in favor of the Revenue and against the assessee in an appeal under section 260A of the Income-tax Act, 1961 regarding the deletion of an interest addition, citing a previous judgment in CIT v. Vardhman Polytex Ltd. The appeal was disposed of accordingly.

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The High Court of Punjab & Haryana heard an appeal under section 260A of the Income-tax Act, 1961 regarding the deletion of an interest addition. The court ruled in favor of the Revenue and against the assessee, citing a previous judgment in CIT v. Vardhman Polytex Ltd. The appeal was disposed of accordingly.

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