https://www.taxtmi.com/caselaws?id=67167 The Tribunal upheld the disallowance of Rs. 2,89,61,025 under Section 43B, emphasizing that the conversion of interest into a loan did not constitute actual payment. It was ruled that the effective date of the loan agreement was 16th July 1990, and events related to the loan conversion occurred after the return filing due date. The Tribunal dismissed the appeal, stating that the assessee's arguments did not align with the legal provisions and factual circumstances of the case. en-us Mon, 31 Aug 1998 00:00:00 +0530 Wed, 09 Mar 2011 13:12:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67167 The Tribunal upheld the disallowance of Rs. 2,89,61,025 under Section 43B, emphasizing that the conversion of interest into a loan did not constitute actual payment. It was ruled that the effective date of the loan agreement was 16th July 1990, and events related to the loan conversion occurred after the return filing due date. The Tribunal dismissed the appeal, stating that the assessee's arguments did not align with the legal provisions and factual circumstances of the case. Case-Laws Income Tax Mon, 31 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67167