2009 (2) TMI 78 - HC - Income Tax

Whether Tribunal has substantially erred in law in directing to delete the disallowance in respect of interest payment on excise duty refund on the ground that the same does not fall within the purview of Section 43-B - question is answered in the negative revenue s appeal dismissed

Summary

The High Court of Gujarat upheld the decision of the Income Tax Appellate Tribunal to delete the disallowance of Rs.2,63,658/- in respect of interest payment on excise duty refund. The court referred to a previous judgment involving the same parties and concluded that the Tribunal was justified in its decision. The appeal was dismissed with no costs.