The assessee company was into business of providing long term credits, the company paid interest tax for AY 93-94 to 97-98 which was later refunded due to the order of ITAT. The revenue’s appeal was allowed in their favour by High Court. The AO in the order giving effect raised an interest tax demand. The assessee claimed that as expenditure, the AO disallowed on the reasoning that the same has to be allowed from income of those old years and not in which the tax was paid. Held that as per Interest Tax Act, 1974, the section 18 was very clear that assessee is eligible to claim the interest tax for any assessment year and the expenditure therefore was allowed in the AY 2018-19 when claimed by the assessee company.   (AY 2018-19)