https://www.taxtmi.com/caselaws?id=21793 The High Court affirmed the decisions of the Appellate Assistant Commissioner and the Income-tax Appellate Tribunal, ruling against the assessee on both issues. The court held that section 144B of the Income-tax Act, 1961 was not applicable due to the minimal difference in income figures. Additionally, the court upheld the rejection of the claim for deduction of income-tax and surtax liabilities as business expenditure, determining that these liabilities did not arise in the course of the assessee's business but under the amalgamation scheme. en-us Wed, 07 Feb 1990 00:00:00 +0530 Tue, 01 Dec 2009 12:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21793 The High Court affirmed the decisions of the Appellate Assistant Commissioner and the Income-tax Appellate Tribunal, ruling against the assessee on both issues. The court held that section 144B of the Income-tax Act, 1961 was not applicable due to the minimal difference in income figures. Additionally, the court upheld the rejection of the claim for deduction of income-tax and surtax liabilities as business expenditure, determining that these liabilities did not arise in the course of the assessee's business but under the amalgamation scheme. Case-Laws Income Tax Wed, 07 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21793