Supreme Court Grants Leave, Restrains Department from Recovery

The Supreme Court granted leave in a civil appeal, condoning the delay. The Department is restrained from recovering penalty and interest until the appeal's final disposal. The assessee is required to pay tax as if Section 43B(f) is in effect but can assert a claim in its returns.

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The Supreme Court granted leave in a civil appeal and condoned delay. The Department is restrained from recovering penalty and interest until final disposal of the appeal. The assessee must pay tax as if Section 43B(f) is in effect but can make a claim in its returns.

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