https://www.taxtmi.com/caselaws?id=67411 The Tribunal allowed the assessee's appeal regarding the disallowance of audit fee under section 43B for unpaid audit fee, directing the AO to permit the deduction upon actual payment. Similarly, the disallowance of interest payable to NABARD Bank under section 43B was overturned as NABARD was not considered a public financial institution under section 4A of the Companies Act. The Tribunal also held that the prima facie adjustment disallowing audit fee under section 143(1)(a) was impermissible, directing the AO to exclude the audit fee from the adjustment. The Revenue's appeal, challenging the cancellation of additional tax based on the disallowed audit fee, was dismissed. en-us Wed, 01 Apr 1998 00:00:00 +0530 Thu, 10 Mar 2011 14:27:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67411 The Tribunal allowed the assessee's appeal regarding the disallowance of audit fee under section 43B for unpaid audit fee, directing the AO to permit the deduction upon actual payment. Similarly, the disallowance of interest payable to NABARD Bank under section 43B was overturned as NABARD was not considered a public financial institution under section 4A of the Companies Act. The Tribunal also held that the prima facie adjustment disallowing audit fee under section 143(1)(a) was impermissible, directing the AO to exclude the audit fee from the adjustment. The Revenue's appeal, challenging the cancellation of additional tax based on the disallowed audit fee, was dismissed. Case-Laws Income Tax Wed, 01 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67411