https://www.taxtmi.com/caselaws?id=275787 The High Court allowed the deduction of interest on excess levy sugar price claimed by the respondent-company for the assessment year 1977-78. The Court held that the liability for interest amounting to &8377;11,38,507 was relatable to the assessment year in question and was therefore allowable as a deduction. The Court's decision favored the assessee and rejected the revenue's appeal, affirming the Tribunal's order. No costs were awarded in this matter. en-us Tue, 21 Sep 2004 00:00:00 +0530 Wed, 17 Oct 2018 10:59:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275787 The High Court allowed the deduction of interest on excess levy sugar price claimed by the respondent-company for the assessment year 1977-78. The Court held that the liability for interest amounting to &8377;11,38,507 was relatable to the assessment year in question and was therefore allowable as a deduction. The Court's decision favored the assessee and rejected the revenue's appeal, affirming the Tribunal's order. No costs were awarded in this matter. Case-Laws Income Tax Tue, 21 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275787