https://www.taxtmi.com/caselaws?id=15981 The High Court ruled in favor of the assessee on both issues. Regarding the first issue, the Court held that the amount credited to the "Enhanced Levy Sugar Price Account" was not chargeable to income tax until the dispute was resolved. On the second issue, the Court determined that the interest on excess amount received on levy sugar was deductible as an actual liability, even if disputed by the assessee. The judgment clarified the treatment of the credited amount and allowed the deduction of interest, aligning with legal principles and precedents in Income-tax law. en-us Tue, 15 Jun 1999 00:00:00 +0530 Mon, 31 Aug 2009 13:03:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15981 The High Court ruled in favor of the assessee on both issues. Regarding the first issue, the Court held that the amount credited to the "Enhanced Levy Sugar Price Account" was not chargeable to income tax until the dispute was resolved. On the second issue, the Court determined that the interest on excess amount received on levy sugar was deductible as an actual liability, even if disputed by the assessee. The judgment clarified the treatment of the credited amount and allowed the deduction of interest, aligning with legal principles and precedents in Income-tax law. Case-Laws Income Tax Tue, 15 Jun 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15981