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2004 (8) TMI 44 - HC - Income TaxExcess levy sugar price - "1. Whether, Tribunal was right in holding that the amount being excess levy sugar price was not taxable in the hands of the assessee-company? 2. Whether, Tribunal was right in law in deleting the interest on the amount of excess levy sugar price claimed by the assessee?" - we find that here also the right to collect/realise extra levy sugar price was on account of the interim order dated July 27, 1972, passed by this court, which was hedged with certain conditions. Thus, the right to receive the payment had been in dispute. It, therefore, did not form part of the trading receipt of the respondent-assessee – Thus, we answer the first question of law in the affirmative, i.e., in favour of the assessee - The amount of interest which the respondent was liable to pay on excess realisation of sugar price to the fund, cannot be said to have accrued during the relevant previous year ending on September 30, 1973, relating to the assessment year 1974-75, so our answer to question No. 2 is in the negative, i.e., in favour of the Revenue
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