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2010 (11) TMI 993 - HC - Income TaxClaim the deduction u/s. 43B - payment towards excise duty - The fact is that the assessee had made the payment towards excise duty albeit on the direction of the CESTAT as pre-deposit which therefore, would not seize to have the character of excise duty as held in the case of Bharat Carbon & Ribbon Mfg. Co. (P) Ltd. [1999 (8) TMI 1 - SUPREME COURT]. The ultimate decision in the appeal will have no bearing on the issue. Before us, the admitted position is that the said amount of ₹ 7.5 crores is made against as a part payment against the excise duty demand raised by the excise authorities and since it was a statutory liability on that part, therefore, the conditions stipulated in s. 43B are duly fulfilled and thus the assessee was entitled to claim the deduction thereof. We thus answer the question in favour of the assessee and against the Revenue and as a result thereof, this appeal is dismissed.
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