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2015 (8) TMI 928 - HC - Income TaxQuestion of libility - accrual of interest - Whether the assessee can be permitted to claim deduction for interest which was neither paid nor shown to have been incurred in the books of accounts ? - Held that:- The assessee before us has neither paid the liability nor has admitted the liability in its books of accounts. The assessee on the top of that has disputed the liability as indicated above. Therefore, the judgment in the case of Indian Metals & Carbide Ltd. [1991 (12) TMI 31 - ORISSA High Court ] is not applicable to the facts of this case. For the aforesaid reasons, the question formulated above is answered in the negative and in favour of the revenue
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