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2019 (11) TMI 1303 - MADHYA PRADESH HIGH COURTRevision u/s 263 - allowability of rebate, de-compounding fee etc - HELD THAT:- Liability of rebate, decompounding and waiver of interest etc has arisen due to the agreements executed by the assessee with its clients and it is certainly allowable liability as the assessee duly claimed the same and the Assessing Officer was not justified in rejecting the claim of the assessee that the assessee is now following the cash system of accounting and the rebate on interest etc meted to the period when the assessee was following the mercantile system of accounting. In light of the aforesaid, as the issue has already been decided by this court, the question of law framed on 12.3.2003, which has already been reproduced above, is answered in favour of the assessee. The ITAT was certainly justified in allowing the rebate, de-compounding fee etc and in quashing the order passed under Section 263 of the Income-Tax Act, 1961.
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