https://www.taxtmi.com/caselaws?id=30095 The High Court held in favor of the assessee, ruling that the interest payable on an excise refund was rightly deducted by the Assessing Officer and should not have been disallowed under Section 263 of the Income Tax Act. The Court determined that the interest payment was not a statutory liability but based on a High Court order, therefore not falling under Section 43B. The Court concluded that the Commissioner erred in disallowing the interest amount, ultimately deciding in favor of the assessee and against the Revenue. en-us Tue, 19 Feb 2008 00:00:00 +0530 Thu, 07 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30095 The High Court held in favor of the assessee, ruling that the interest payable on an excise refund was rightly deducted by the Assessing Officer and should not have been disallowed under Section 263 of the Income Tax Act. The Court determined that the interest payment was not a statutory liability but based on a High Court order, therefore not falling under Section 43B. The Court concluded that the Commissioner erred in disallowing the interest amount, ultimately deciding in favor of the assessee and against the Revenue. Case-Laws Income Tax Tue, 19 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30095