Court Rules 18% Interest Rate in Recovery Suits Cannot Be Presumed Accrued, Affecting Tax Liabilities Assessment.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Accrual of interest - uncertainty - it cannot be presumed that the interest accrued to the assessee at the rate of 18% p.a. as claimed by the assessees in the suits filed for recovery of advances - AT....