Deductibility under section 43B expanded to include State financial and industrial investment corporations in tax law.

The amendment adds State financial corporations and State industrial investment corporations to the class of entities referenced in clause (d), bringing transactions with those State entities within the provision's timing- and mode-based deductibility rule. It also substitutes the Explanation to define "public financial institution" by reference to company law, to specify State financial corporations under the State Financial Corporations Act or notified institutions, and to define State industrial investment corporations as Government companies providing long-term industrial finance subject to Central Government approval.

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