https://www.taxtmi.com/caselaws?id=240946 The Allahabad High Court ruled in favor of the assessee in a case concerning deductions related to interest on excess levy price and liability towards additional cane price for the assessment year 1991-92. The Court upheld the Tribunal's decision, emphasizing the statutory nature of the liabilities and their accrual during the relevant years. The Court referred to previous judgments supporting the allowance of deductions, ultimately dismissing the Department's appeal under Section 260-A of the Income Tax Act, 1961. en-us Thu, 12 Dec 2013 00:00:00 +0530 Sat, 14 Dec 2013 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240946 The Allahabad High Court ruled in favor of the assessee in a case concerning deductions related to interest on excess levy price and liability towards additional cane price for the assessment year 1991-92. The Court upheld the Tribunal's decision, emphasizing the statutory nature of the liabilities and their accrual during the relevant years. The Court referred to previous judgments supporting the allowance of deductions, ultimately dismissing the Department's appeal under Section 260-A of the Income Tax Act, 1961. Case-Laws Income Tax Thu, 12 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240946