Court allows deduction for income-tax liability based on settlement order, following Supreme Court precedent.

The High Court of Rajasthan ruled in favor of the assessee, allowing deduction for income-tax liability based on a settlement order, following a precedent set by a Supreme Court ruling. No costs were awarded.

---

---

The High Court of Rajasthan ruled in favor of the assessee, allowing deduction for income-tax liability based on a settlement order. The decision was influenced by a previous Supreme Court ruling in CWT v. J. K. Cotton Manufacturers Ltd. No costs were awarded. (Case citation: 1988 (4) TMI 9 - RAJASTHAN High Court)

---