https://www.taxtmi.com/caselaws?id=10374 The court ruled in favor of the Revenue and against the assessee on all three issues. It upheld the disallowance of interest payable on deposits, rejected the claim for depreciation at revised rates, and denied the deduction of sales tax liability for the assessment year 1981-82. The court's decision was based on previous rulings and established principles regarding deductions and liabilities under the Income-tax Act, 1961. en-us Wed, 08 Dec 2004 00:00:00 +0530 Tue, 14 Jul 2009 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10374 The court ruled in favor of the Revenue and against the assessee on all three issues. It upheld the disallowance of interest payable on deposits, rejected the claim for depreciation at revised rates, and denied the deduction of sales tax liability for the assessment year 1981-82. The court's decision was based on previous rulings and established principles regarding deductions and liabilities under the Income-tax Act, 1961. Case-Laws Income Tax Wed, 08 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10374