https://www.taxtmi.com/caselaws?id=220293 The High Court upheld the Tribunal's decision that the adjustment of interest against subsidy and term loans through book entry constituted "actual payment" under Section 43B(d) of the Income Tax Act. The Court clarified that the concept of "actual payment" should not be narrowly construed to require physical cash transactions, providing clarity on the interpretation of statutory provisions related to interest payments in tax matters. The appeal was dismissed, affirming the Tribunal's ruling. en-us Thu, 03 Jan 2013 00:00:00 +0530 Fri, 18 Jan 2013 09:15:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220293 The High Court upheld the Tribunal's decision that the adjustment of interest against subsidy and term loans through book entry constituted "actual payment" under Section 43B(d) of the Income Tax Act. The Court clarified that the concept of "actual payment" should not be narrowly construed to require physical cash transactions, providing clarity on the interpretation of statutory provisions related to interest payments in tax matters. The appeal was dismissed, affirming the Tribunal's ruling. Case-Laws Income Tax Thu, 03 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220293