https://www.taxtmi.com/caselaws?id=179759 The High Court upheld the Tribunal's decision in favor of the assessee on both issues. The appeal by the Revenue was dismissed, with no costs awarded. The first issue involved the deletion of addition towards customs duty on closing stock, with the Tribunal ruling in favor of the assessee. The second issue pertained to the allowability of interest paid on borrowed capital as revenue expenditure, which was found to be in conformity with the law by both the Tribunal and the High Court. en-us Thu, 02 Feb 2006 00:00:00 +0530 Fri, 03 Jun 2016 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179759 The High Court upheld the Tribunal's decision in favor of the assessee on both issues. The appeal by the Revenue was dismissed, with no costs awarded. The first issue involved the deletion of addition towards customs duty on closing stock, with the Tribunal ruling in favor of the assessee. The second issue pertained to the allowability of interest paid on borrowed capital as revenue expenditure, which was found to be in conformity with the law by both the Tribunal and the High Court. Case-Laws Income Tax Thu, 02 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179759