https://www.taxtmi.com/caselaws?id=55137 The Appellate Tribunal ITAT Ahmedabad ruled in favor of the assessee in a dispute over the disallowance of interest on an excise refund under section 263 of the IT Act. The Tribunal held that the interest on the excise refund was not a statutory liability under section 43B, as it arose from a court order due to a legal mistake and was not akin to taxes or duties. Consequently, the Tribunal overturned the CIT's order, allowing the deduction of interest as per the assessee's regular accounting method. en-us Tue, 16 Jan 1996 00:00:00 +0530 Tue, 23 Nov 2010 17:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55137 The Appellate Tribunal ITAT Ahmedabad ruled in favor of the assessee in a dispute over the disallowance of interest on an excise refund under section 263 of the IT Act. The Tribunal held that the interest on the excise refund was not a statutory liability under section 43B, as it arose from a court order due to a legal mistake and was not akin to taxes or duties. Consequently, the Tribunal overturned the CIT's order, allowing the deduction of interest as per the assessee's regular accounting method. Case-Laws Income Tax Tue, 16 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55137