1990 (12) TMI 33 - HC - Income Tax

Summary

The High Court of Himachal Pradesh ruled in favor of the assessee, upholding the deductions claimed for damages for use and occupation of premises. The Appellate Tribunal erred in adding back the deducted amount to the total income. The deductions were found to be valid under section 37(1) of the Income-tax Act, and interest charges under sections 139, 215, and 217(1A) were not applicable.