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2016 (7) TMI 1093 - DELHI HIGH COURTReview petition - Interest amount by way of a term 'debenture' - whether amounts to actual payment of as contemplated by Section 43B - Held that:- Though debentures are securities and are actionable claim the essential fact is that they are instruments of debt, by the company acknowledging its indebtedness to pay the amount specified. Does this amount to “payment” under Section 43-B. This court is of opinion that there is no question of any error in the judgment under review. The clear purport of the statute- i.e. Section 43-B (d) is that any amount payable towards interest liability would qualify for deduction.
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