https://www.taxtmi.com/caselaws?id=13172 The High Court upheld the Commissioner of Income-tax's decision under section 263, enhancing the total income by Rs.98,25,833 due to an error in allowing double deduction for excise and customs duties. The Court ruled against the assessee, emphasizing that once a liability is discharged and debited in the profit and loss account, claiming the same amount again results in double deduction, which was found to be erroneous and prejudicial to the Revenue's interests. The claim for deduction of excise and customs duties in the profit and loss account was rejected, affirming the Commissioner's jurisdiction and decision. en-us Mon, 24 Sep 2001 00:00:00 +0530 Tue, 26 May 2009 17:46:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13172 The High Court upheld the Commissioner of Income-tax's decision under section 263, enhancing the total income by Rs.98,25,833 due to an error in allowing double deduction for excise and customs duties. The Court ruled against the assessee, emphasizing that once a liability is discharged and debited in the profit and loss account, claiming the same amount again results in double deduction, which was found to be erroneous and prejudicial to the Revenue's interests. The claim for deduction of excise and customs duties in the profit and loss account was rejected, affirming the Commissioner's jurisdiction and decision. Case-Laws Income Tax Mon, 24 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13172