https://www.taxtmi.com/caselaws?id=185923 The High Court ruled in favor of the assessee on both issues. The disallowance of interest on excess levy sugar price was overturned, following precedent that only interest accrued during the relevant assessment year is allowable. Similarly, the disallowance of interest payments on advances to subsidiaries was also reversed based on prior judgments. The Court emphasized the necessity of considering interest accrued during the specific assessment year and concluded the judgment without imposing costs. en-us Tue, 22 Feb 2005 00:00:00 +0530 Fri, 02 Sep 2016 17:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185923 The High Court ruled in favor of the assessee on both issues. The disallowance of interest on excess levy sugar price was overturned, following precedent that only interest accrued during the relevant assessment year is allowable. Similarly, the disallowance of interest payments on advances to subsidiaries was also reversed based on prior judgments. The Court emphasized the necessity of considering interest accrued during the specific assessment year and concluded the judgment without imposing costs. Case-Laws Income Tax Tue, 22 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185923