https://www.taxtmi.com/caselaws?id=65184 The Tribunal upheld the CIT(A)'s decision to exclude certain payments from disallowance under section 40A(8) and confirmed disallowance under section 43B. The Tribunal ruled that interest paid to directors and shareholders was not subject to disallowance under section 40A(8) based on precedent. Regarding section 43B, the Tribunal held that unpaid sales tax at the close of the year was not deductible, following Delhi High Court's interpretation. Both the Revenue's and the assessee's appeals were dismissed, affirming the disallowances under sections 40A(8) and 43B. en-us Thu, 09 Apr 1992 00:00:00 +0530 Mon, 14 Feb 2011 11:08:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65184 The Tribunal upheld the CIT(A)'s decision to exclude certain payments from disallowance under section 40A(8) and confirmed disallowance under section 43B. The Tribunal ruled that interest paid to directors and shareholders was not subject to disallowance under section 40A(8) based on precedent. Regarding section 43B, the Tribunal held that unpaid sales tax at the close of the year was not deductible, following Delhi High Court's interpretation. Both the Revenue's and the assessee's appeals were dismissed, affirming the disallowances under sections 40A(8) and 43B. Case-Laws Income Tax Thu, 09 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65184