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2011 (9) TMI 467 - DELHI HIGH COURTClaim of Interest - The only issue is as to whether this interest had accrued in earlier years or in the assessment year in question, viz., 2000-01, in which year the assessee had claimed the deduction thereof. According to the Assessing Officer (AO), such as deduction was not permissible in this year as the interest had accrued in the earlier years, which should have been claimed in those years only. - Held that:- When there is dispute regarding interest liability for a particular A/Y and the dispute is settled in some other year, claim can made when dispute is finally settled. - the exact liability of the assessee to pay the interest to RCL got settled finally only when compromise decree was passed at High Court of Judicature at Bombay. Since this compromise decree was passed on 08.02.2001, it was, but natural for the assessee to claim the deductions of this liability in the year in question. - Decided in favor of assessee.
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