Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 1016 - HC - Income TaxTreatment of unutilised MODVAT credit, balance as at the end of the year as payment of excise duty - Deduction u/s 43B - actual payment of duty or not - Excise duty paid in advance in the Personal Ledger Account (“PLA”) - accrual of expenses - whether amount of advance deposit did not represent actual payment of duty so as to entitle an assessee to the benefit of deduction under Section 43B? - Held that:- In view of the law laid down by the Apex Court in Modipon Limited’s case (2017 (11) TMI 1429 - SUPREME COURT OF INDIA) holding that the advance deposit of Central Excise duty constitutes actual payment of duty within the meaning of Section 43B of the Act and that the assessee would be entitled to benefit of deduction of the said amount, the substantial questions of law raised in these appeals are answered in favour of the assessee and against the respondent-revenue.
|