https://www.taxtmi.com/caselaws?id=22983 The court upheld the deductibility of interest paid on arrears of cane purchase tax, allowing it as part of the debt. It ruled in favor of the assessee on this issue. Additionally, the court determined that strawboard qualifies for a higher development rebate rate and relief under section 80-I, favoring the assessee against the Revenue. The deductibility of bonus payments and statutory liability under the Payment of Bonus Act was upheld in favor of the assessee. The court also favored the assessee on the inclusion of the difference in levy sugar price in income and liability for the difference in cane purchase price. However, the court ruled against the assessee on the deductibility of interest paid for late income tax payment. en-us Fri, 12 Oct 1990 00:00:00 +0530 Tue, 15 Dec 2009 16:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22983 The court upheld the deductibility of interest paid on arrears of cane purchase tax, allowing it as part of the debt. It ruled in favor of the assessee on this issue. Additionally, the court determined that strawboard qualifies for a higher development rebate rate and relief under section 80-I, favoring the assessee against the Revenue. The deductibility of bonus payments and statutory liability under the Payment of Bonus Act was upheld in favor of the assessee. The court also favored the assessee on the inclusion of the difference in levy sugar price in income and liability for the difference in cane purchase price. However, the court ruled against the assessee on the deductibility of interest paid for late income tax payment. Case-Laws Income Tax Fri, 12 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22983