Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (4) TMI 35 - HC - Income TaxCompanies (Profits) Surtax Act, 1964 - interest on the sticky loans - proceedings were taken against the assessee on the return being filed declaring the chargeable profits under the Companies (Profits) Surtax Act, 1964, at Rs. 1,03,950 filed on March 18, 1989. It was in response to the notice issued under section 8(a) of the Companies (Profits) Surtax Act, 1964 – Held that interest on the sticky loans cannot be included in the income-tax and accordingly, no surcharge can be included for the purpose of surtax. - There is no merit in the appeal. It is hereby dismissed.
|