https://www.taxtmi.com/caselaws?id=178368 The High Court of Allahabad ruled in favor of the assessee on both issues. It held that interest on excess levy sugar price is an allowable deduction and that the disallowance of interest on advances to subsidiaries is not warranted when no interest was charged. The Court concluded that the Tribunal's decisions were consistent with precedent, answering the questions in favor of the assessee without awarding any costs. en-us Fri, 06 Oct 2006 00:00:00 +0530 Wed, 03 Feb 2016 13:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178368 The High Court of Allahabad ruled in favor of the assessee on both issues. It held that interest on excess levy sugar price is an allowable deduction and that the disallowance of interest on advances to subsidiaries is not warranted when no interest was charged. The Court concluded that the Tribunal's decisions were consistent with precedent, answering the questions in favor of the assessee without awarding any costs. Case-Laws Income Tax Fri, 06 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178368