1991 (12) TMI 13 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee, allowing deduction of excise duty liabilities for the assessment years 1977-78, 1979-80, and 1980-81. The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) based on previous court rulings. The judgment was in agreement with previous decisions and favored the assessee.