https://www.taxtmi.com/caselaws?id=191855 The High Court ruled against the assessee in the interpretation of the first proviso to s. 32(1)(ii) of the Income Tax Act, stating that the deduction should be based on purchases made throughout the year, not daily purchases. However, the court ruled in favor of the assessee on the appealability of the levy of interest under s. 217, allowing them to challenge it in the ongoing proceedings. en-us Wed, 30 Nov 1983 00:00:00 +0530 Thu, 27 Apr 2017 17:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191855 The High Court ruled against the assessee in the interpretation of the first proviso to s. 32(1)(ii) of the Income Tax Act, stating that the deduction should be based on purchases made throughout the year, not daily purchases. However, the court ruled in favor of the assessee on the appealability of the levy of interest under s. 217, allowing them to challenge it in the ongoing proceedings. Case-Laws Income Tax Wed, 30 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191855