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2019 (2) TMI 1599 - SUPREME COURTAddition u/s 43B - conversion of unpaid interest into a funded interest loan treating the same as interest payment - HELD THAT:- The provision of Section 43B covers a host of different situations. The statutory Explanation 3C inserted by the Finance Act, 2006 is squarely applicable in the facts of the present case. It appears that the attention of the High Court was not invited to Explanation 3C, we are, thus, of the view that the Assessing Officer has rightly disallowed the deduction as claimed by the assessee. The Appellate Authority, ITAT and the High Court erred in reversing the said disallowance. - Decided against assessee.
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