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2008 (2) TMI 190 - HC - Income TaxAssessee was required to pay interest to the Excise Department (in relation to refund of Excise Duty) if necessary - the liability to pay interest was a contractual liability and hence, it should not be considered to be a statutory liability hence it can’t be said that it would be allowable only on fulfillment of requirements under Section 43B – no question of the said amount having the characteristic of duty, so, section 43B not applicable – interest is deductible
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