https://www.taxtmi.com/caselaws?id=3707 The High Court ruled in favor of the appellant-company and its director, stating that the amount added to the company's income should be deleted from the director's income. The court set aside the Commissioner's order, allowing the director to claim a refund of the tax paid on that amount. The appellant-company was directed to settle its tax liability promptly and had the option to seek an interest waiver from the Central Board of Direct Taxes. Each party was responsible for its own costs. en-us Fri, 26 Oct 2007 00:00:00 +0530 Sun, 27 Jul 2008 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3707 The High Court ruled in favor of the appellant-company and its director, stating that the amount added to the company's income should be deleted from the director's income. The court set aside the Commissioner's order, allowing the director to claim a refund of the tax paid on that amount. The appellant-company was directed to settle its tax liability promptly and had the option to seek an interest waiver from the Central Board of Direct Taxes. Each party was responsible for its own costs. Case-Laws Income Tax Fri, 26 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3707