https://www.taxtmi.com/caselaws?id=171160 The High Court upheld the Tribunal's decision to disallow part interest for the years 1976-77, 1977-78, and 1978-79. The Court emphasized that previous assessments do not bind assessing authorities in later years, and each year is considered separately for assessment purposes. The decision favored the department, affirming the Tribunal's action in disallowing interest for non-business purposes, particularly for the purchase of agricultural land. en-us Fri, 20 Oct 2000 00:00:00 +0530 Sat, 11 Jul 2015 12:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171160 The High Court upheld the Tribunal's decision to disallow part interest for the years 1976-77, 1977-78, and 1978-79. The Court emphasized that previous assessments do not bind assessing authorities in later years, and each year is considered separately for assessment purposes. The decision favored the department, affirming the Tribunal's action in disallowing interest for non-business purposes, particularly for the purchase of agricultural land. Case-Laws Income Tax Fri, 20 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171160