1997 (12) TMI 16

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..... eni Engineering Works Ltd. v. CIT, appeal is allowed and held that interest on the outstanding balance of sales tax was an allowable deduction, assessee's claim in respect of interest on the arrears of sales tax is also acceptable - - - - - Dated:- 16-12-1997 - Judge(s) : S. C. AGARWAL. and G. T. NANAVATI. ORDER This appeal arises out of the Income-tax Reference No. 54 of 1978 (see [198 .....

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..... e assessee's income liable to assessment for the year under consideration?" The Allahabad High Court by its impugned judgment dated January 28, 1980, has answered the said questions against the assessee and in favour of the Revenue. Hence, this appeal. While granting special leave to appeal the appeal has been confined to questions Nos. 1 and 2 only. The High Court has proceeded on the basis .....

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