https://www.taxtmi.com/caselaws?id=11419 The High Court ruled in favor of the assessee on all issues. It held that registration under the Companies Act was sufficient to create a valid charge over the company's properties, disallowing the Income-tax Officer's disallowance of interest payments. The Court also allowed the deduction under section 80J for the new industrial undertaking and upheld the application of section 40(c)(ii) over section 40A(5) for deductions related to the managing director's salary and perquisites. en-us Tue, 30 Jul 2002 00:00:00 +0530 Sat, 08 Aug 2009 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11419 The High Court ruled in favor of the assessee on all issues. It held that registration under the Companies Act was sufficient to create a valid charge over the company's properties, disallowing the Income-tax Officer's disallowance of interest payments. The Court also allowed the deduction under section 80J for the new industrial undertaking and upheld the application of section 40(c)(ii) over section 40A(5) for deductions related to the managing director's salary and perquisites. Case-Laws Income Tax Tue, 30 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11419