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2005 (1) TMI 27 - HC - Income TaxSection 43B - "1. Whether, Tribunal is justified in holding that the 'issue price' charged by the Excise Department does not come in purview of payment within the meaning of section 43B and consequently cannot be disallowed under section 43B? 2. If the answer to question No. 1 is in the negative, whether Tribunal is justified in holding that the sum of Rs. 2,39,527 is allowable as a deduction in spite of the fact that the assessee has not accepted this amount as liability and contesting the same?" – held that no amount of consideration payable by the asses-see as a "price fee" for securing exclusive privilege to deal in liquor from the State also by way of tax, duty, cess or fee, by whatever name called fell within the broader sense of "tax" or "duty" u/s 43B(a) so as to attract its applicability - if the amount is held to be not payable by the assessee, it will be a question inviting operation of section 40 for including the amount so deducted in the assessment year in question in the taxable income of the assessee in the assessment year when he is relieved of such liability in respect of which he has claimed deduction in the earlier assessment year - application is rejected
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