Kerala HC reverses Tribunal decision, allows deduction under Section 43B

The Kerala HC allowed the assessee's appeal, following compliance with Section 43B of the Income Tax Act. The Tribunal's decision was reversed, and the case was remanded to the assessing officer for deduction of the timely payment made by the assessee before filing the return.

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The Kerala High Court allowed the assessee's appeal, citing compliance with Section 43B of the Income Tax Act based on the Supreme Court's decision in CIT V. VINAY CEMENT LTD. The Tribunal found that the assessee made the payment before filing the return, leading to a reversal of the Tribunal's order and a remand to the assessing officer for deduction of the amount paid on time.

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