https://www.taxtmi.com/caselaws?id=261255 The High Court upheld the Tribunal's deletion of disallowance of interest on a debit balance, accepting the factual findings and an earlier inter-party decision. It also sustained the Tribunal's view that no addition was justified on the sale of bagasse to a sister concern at a lower rate, since the pre-year bulk supply agreement, fluctuating prices, and genuineness of the transaction were established on facts. Depreciation booked in the profit and loss account was held not to be disturbed while computing income under section 115J, that issue being covered by binding precedent. All substantial questions were answered against the Revenue. en-us Mon, 16 Dec 2013 00:00:00 +0530 Thu, 28 Feb 2019 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261255 The High Court upheld the Tribunal's deletion of disallowance of interest on a debit balance, accepting the factual findings and an earlier inter-party decision. It also sustained the Tribunal's view that no addition was justified on the sale of bagasse to a sister concern at a lower rate, since the pre-year bulk supply agreement, fluctuating prices, and genuineness of the transaction were established on facts. Depreciation booked in the profit and loss account was held not to be disturbed while computing income under section 115J, that issue being covered by binding precedent. All substantial questions were answered against the Revenue. Case-Laws Income Tax Mon, 16 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261255