https://www.taxtmi.com/caselaws?id=256634 The High Court upheld the Income Tax Appellate Tribunal's decision to delete the disallowance on interest for plant and machinery, citing a Supreme Court judgment. Additionally, the court affirmed the deletion of the excise duty addition for closing stock based on relevant accounting principles and guidelines. The High Court remitted cases involving interest-free advances for reconsideration in line with a Supreme Court ruling. Regarding interest on Section 234D, the court held that the assessee must pay interest on excess refund from the date of incorporation of the section. The court ruled in favor of the revenue on this issue, providing detailed legal analyses for each matter. en-us Wed, 07 Jan 2015 00:00:00 +0530 Tue, 17 Feb 2015 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256634 The High Court upheld the Income Tax Appellate Tribunal's decision to delete the disallowance on interest for plant and machinery, citing a Supreme Court judgment. Additionally, the court affirmed the deletion of the excise duty addition for closing stock based on relevant accounting principles and guidelines. The High Court remitted cases involving interest-free advances for reconsideration in line with a Supreme Court ruling. Regarding interest on Section 234D, the court held that the assessee must pay interest on excess refund from the date of incorporation of the section. The court ruled in favor of the revenue on this issue, providing detailed legal analyses for each matter. Case-Laws Income Tax Wed, 07 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256634