https://www.taxtmi.com/caselaws?id=256251 The Tribunal held that the conversion of interest into equity shares constitutes actual payment under Section 43B of the Income Tax Act, discharging the liability and allowing for the deduction claimed by the assessee. They overturned the lower authorities' decisions and allowed the assessee's appeal, correcting factual errors in the disallowance amount. en-us Wed, 21 Jan 2015 00:00:00 +0530 Sat, 07 Feb 2015 19:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256251 The Tribunal held that the conversion of interest into equity shares constitutes actual payment under Section 43B of the Income Tax Act, discharging the liability and allowing for the deduction claimed by the assessee. They overturned the lower authorities' decisions and allowed the assessee's appeal, correcting factual errors in the disallowance amount. Case-Laws Income Tax Wed, 21 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256251