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Interest on Consumer Security Deposit Is Not Contingent Liability: Delhi HC Dismisses Income Tax Dept. Appeal

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The Delhi High Court has held that interest payable on consumer security deposits is a statutory and contractual obligation and cannot be treated as a contingent liability, while dismissing the Income Tax Department’s appeal against Tata Power Delhi Distribution Limited. The Bench of Justice Dinesh Mehta and Justice Vinod Kumar delivered the ruling while adjudicating…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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