https://www.taxtmi.com/caselaws?id=204562 The Tribunal allowed the assessee's appeal in part, ruling that the disallowance of interest on Deep Discount Bonds under Section 43B of the Income Tax Act was not justified. The Tribunal held that the interest liability accrued annually under the mercantile system of accounting and was not covered by Section 43B. As a result, the disallowance of Rs. 6,08,03,230 was deleted. en-us Fri, 15 May 2009 00:00:00 +0530 Wed, 05 Jun 2013 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204562 The Tribunal allowed the assessee's appeal in part, ruling that the disallowance of interest on Deep Discount Bonds under Section 43B of the Income Tax Act was not justified. The Tribunal held that the interest liability accrued annually under the mercantile system of accounting and was not covered by Section 43B. As a result, the disallowance of Rs. 6,08,03,230 was deleted. Case-Laws Income Tax Fri, 15 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204562