2020 (8) TMI 245 - SC ORDER - Income Tax

Head Note / Extract:
Allowable deduction under Section 43B - Disallowance of the amount deposited by the Appellant in its Central Excise Personal Ledger Account (PLA) before 31st March 2000, i.e. the end of the relevant accounting year - Disallowance represented MODVAT credit of excise duty that remained unutilized by 31st March 1999, i.e., the end of the relevant accounting year - Disallowance in respect of Sales Tax Recoverable account u/s 43B - Consumption of raw materials by the Assessee - Nature of software expenditure - revenue expenditure allowance - HELD THAT:- This application has been filed merely on apprehension, we see no reason to entertain this application. The miscellaneous application is accordingly dismissed.