High Court considers disallowance of interest on DDBs in Tax Appeal, overturning previous decision.

The Gujarat High Court admitted a Tax Appeal to consider the substantial question of law on the disallowance of interest on DDBs totaling Rs. 6,54,33,173. The Appellate Tribunal overturned the CIT(A)'s decision and removed the disallowance, resulting in a revised amount of Rs. 28,96,45,191. The case will be heard jointly with Tax Appeal No. 226 of 2010.

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The Gujarat High Court admitted a Tax Appeal for consideration of the substantial question of law regarding the disallowance of interest on DDBs amounting to Rs. 6,54,33,173. The Appellate Tribunal reversed the order passed by CIT(A) and deleted the disallowance. The revised amount is Rs. 28,96,45,191. The case is to be heard with Tax Appeal No.226 of 2010.

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