https://www.taxtmi.com/caselaws?id=36931 The High Court allowed interest payments on arrears of cane price and purchase tax as deductions in total income based on previous decisions. Guarantee commission paid to directors and shareholders was deemed admissible as a deduction, meeting legal requirements. The court linked the relief in the surtax assessment to these allowances, directing consequential relief aligned with the findings on interest payments and guarantee commission. The court answered the first issue negatively, the second issue affirmatively, and ordered surtax relief consequential to these decisions, with no costs awarded due to partial success of both parties. en-us Fri, 31 Aug 1979 00:00:00 +0530 Thu, 25 Mar 2010 15:07:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36931 The High Court allowed interest payments on arrears of cane price and purchase tax as deductions in total income based on previous decisions. Guarantee commission paid to directors and shareholders was deemed admissible as a deduction, meeting legal requirements. The court linked the relief in the surtax assessment to these allowances, directing consequential relief aligned with the findings on interest payments and guarantee commission. The court answered the first issue negatively, the second issue affirmatively, and ordered surtax relief consequential to these decisions, with no costs awarded due to partial success of both parties. Case-Laws Income Tax Fri, 31 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36931