https://www.taxtmi.com/caselaws?id=67633 Deferred sales tax under the Rajasthan Sales Tax Deferment Scheme may satisfy section 43B where the State's amended framework treats the deferred liability as actually paid, and the CBDT circular supports that treatment. The discussion also states that deduction under section 80-I is to be computed on the undertaking's profits without first reducing the deduction under section 80HH, because the provisions operate on the relevant profits and the statutory order of consideration does not require a balance-first approach. On interest disallowance, the material was found insufficient to establish the nexus between borrowed funds and interest-free advances, so the matter required fresh factual verification before any final conclusion. en-us Mon, 02 Aug 1999 00:00:00 +0530 Sat, 12 Mar 2011 10:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67633 Deferred sales tax under the Rajasthan Sales Tax Deferment Scheme may satisfy section 43B where the State's amended framework treats the deferred liability as actually paid, and the CBDT circular supports that treatment. The discussion also states that deduction under section 80-I is to be computed on the undertaking's profits without first reducing the deduction under section 80HH, because the provisions operate on the relevant profits and the statutory order of consideration does not require a balance-first approach. On interest disallowance, the material was found insufficient to establish the nexus between borrowed funds and interest-free advances, so the matter required fresh factual verification before any final conclusion. Case-Laws Income Tax Mon, 02 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67633