https://www.taxtmi.com/caselaws?id=13741 The High Court upheld the Tribunal's decision to disallow the excess market fee claimed by the assessee for the assessment year 1979-80. The Court determined that the liability to pay market fee beyond 1.5 per cent did not accrue during the relevant financial year, as per the Supreme Court's order limiting the levy to two per cent. The decision aligned with a previous case and emphasized adherence to the Supreme Court's directives on market fee liability. Ultimately, the judgment favored the Revenue, rejecting the assessee's claim for deduction of the excess market fee amount. en-us Tue, 08 Feb 2005 00:00:00 +0530 Thu, 02 Jul 2009 11:02:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13741 The High Court upheld the Tribunal's decision to disallow the excess market fee claimed by the assessee for the assessment year 1979-80. The Court determined that the liability to pay market fee beyond 1.5 per cent did not accrue during the relevant financial year, as per the Supreme Court's order limiting the levy to two per cent. The decision aligned with a previous case and emphasized adherence to the Supreme Court's directives on market fee liability. Ultimately, the judgment favored the Revenue, rejecting the assessee's claim for deduction of the excess market fee amount. Case-Laws Income Tax Tue, 08 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13741