https://www.taxtmi.com/caselaws?id=23105 The High Court of Allahabad ruled in an income tax matter involving a public limited company for the assessment years 1965-66 and 1966-67. The court determined that there was a valid agreement between the assessee and a partnership firm to charge interest at a specified rate from a particular date onwards. The court relied on the plaintiff's statements in a suit filed in the Calcutta High Court, which explicitly mentioned the agreement to pay interest at 6% per annum post-March 13, 1964. Consequently, the court favored the Revenue, ruling against the assessee and emphasizing the importance of documentary evidence in establishing agreement terms. en-us Thu, 06 Sep 1990 00:00:00 +0530 Wed, 16 Dec 2009 17:32:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23105 The High Court of Allahabad ruled in an income tax matter involving a public limited company for the assessment years 1965-66 and 1966-67. The court determined that there was a valid agreement between the assessee and a partnership firm to charge interest at a specified rate from a particular date onwards. The court relied on the plaintiff's statements in a suit filed in the Calcutta High Court, which explicitly mentioned the agreement to pay interest at 6% per annum post-March 13, 1964. Consequently, the court favored the Revenue, ruling against the assessee and emphasizing the importance of documentary evidence in establishing agreement terms. Case-Laws Income Tax Thu, 06 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23105