https://www.taxtmi.com/caselaws?id=19192 The High Court ruled in favor of the assessee regarding the first issue, determining that the sum received as the retention price of cement was not assessable as income. The Court emphasized the liability associated with the retention price and reframed the question to assess if the sum should be included in the income calculation. In the second issue, the Court upheld the deletion of the disallowance of interest under section 40A(8) of the Income-tax Act, directing the Tribunal to refer the questions for its opinion due to legal issues and similarities to previous assessment proceedings. en-us Mon, 20 Mar 1995 00:00:00 +0530 Wed, 04 Nov 2009 15:35:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19192 The High Court ruled in favor of the assessee regarding the first issue, determining that the sum received as the retention price of cement was not assessable as income. The Court emphasized the liability associated with the retention price and reframed the question to assess if the sum should be included in the income calculation. In the second issue, the Court upheld the deletion of the disallowance of interest under section 40A(8) of the Income-tax Act, directing the Tribunal to refer the questions for its opinion due to legal issues and similarities to previous assessment proceedings. Case-Laws Income Tax Mon, 20 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19192