https://www.taxtmi.com/caselaws?id=11569 The High Court ruled in favor of the assessee, upholding the Income-tax Appellate Tribunal's decision to delete the addition of Rs. 54,75,000 on account of premium on the redeemable debentures. The court found that the terms of the issued debentures were not altered during the assessment year, and the judgments of both the Supreme Court and its own previous ruling applied to the case. The Department's arguments were deemed meritless, and the court concluded in favor of the assessee, with no order as to costs. en-us Wed, 05 Mar 2003 00:00:00 +0530 Wed, 23 Nov 2022 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11569 The High Court ruled in favor of the assessee, upholding the Income-tax Appellate Tribunal's decision to delete the addition of Rs. 54,75,000 on account of premium on the redeemable debentures. The court found that the terms of the issued debentures were not altered during the assessment year, and the judgments of both the Supreme Court and its own previous ruling applied to the case. The Department's arguments were deemed meritless, and the court concluded in favor of the assessee, with no order as to costs. Case-Laws Income Tax Wed, 05 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11569