https://www.taxtmi.com/caselaws?id=19278 The court ruled against the assessee on issues related to the deduction of borrowed capital under section 80J and the entitlement to deduct surtax payable under the Companies (Profits) Surtax Act. It held that an appeal is maintainable against the Income-tax Officer's refusal to grant interest under section 214 when the assessment is under challenge. Additionally, the court found in favor of the Revenue regarding the availability of development rebate for specific items under section 16(c) of the Finance Act, 1974. The judgment favored the Revenue on most issues, except for one where the assessee succeeded. en-us Fri, 11 Nov 1994 00:00:00 +0530 Thu, 05 Nov 2009 11:44:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19278 The court ruled against the assessee on issues related to the deduction of borrowed capital under section 80J and the entitlement to deduct surtax payable under the Companies (Profits) Surtax Act. It held that an appeal is maintainable against the Income-tax Officer's refusal to grant interest under section 214 when the assessment is under challenge. Additionally, the court found in favor of the Revenue regarding the availability of development rebate for specific items under section 16(c) of the Finance Act, 1974. The judgment favored the Revenue on most issues, except for one where the assessee succeeded. Case-Laws Income Tax Fri, 11 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19278