Assessee's Surtax Claim Disallowed for 1974-75 Assessment Year

The High Court upheld the disallowance of the assessee's claim for surtax liability for the assessment year 1974-75, citing precedents from various High Courts. The court ruled in favor of the Revenue, and each party was directed to bear their own costs.

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The High Court of Punjab and Haryana upheld the disallowance of the assessee's claim for surtax liability for the assessment year 1974-75. The decision was based on precedents from various High Courts, including Simon Carves India Ltd. v. CIT [1988] 173 ITR 660(Cal), S. L. M. Maneklal Industries v. CIT [1988] 172 ITR 176 (Guj), and Organon (India) Ltd. v. CIT [1988] 172 ITR 354 (Cal). The court ruled in favor of the Revenue and each party was directed to bear their own costs.

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