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2013 (4) TMI 288 - HC - Income TaxApplicability of provisions of Section 43B denied - whether the Tribunal was correct in holding that provisions of Section 43B are not applicable although, the payment has been made after the close of the accounting year? - assessee is a registered firm derived income by running a cinema house - Held that:- The controversy stands concluded against the department as decided in Allied Motors(P) Ltd. versus Commissioner of Income Tax [1997 (3) TMI 9 - SUPREME COURT] wherein it has been held that if the tax is so collected and deposited even after the expiry of the accounting year but on the due date, the deduction cannot be disallowed under section 43-B. Also see Commissioner of Income Tax versus Krishna Satya Narain (2004 (12) TMI 71 - ALLAHABAD HIGH COURT) - in favour of assessee.
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