https://www.taxtmi.com/caselaws?id=256810 The Court ruled in favor of the Department, holding that interest on tax, duty, or cess is part of the tax liability and cannot be deducted without actual payment. The Court rejected the argument that interest could be treated independently for deductions under Section 43B of the Income-tax Act, 1961. The judgment clarified that allowing deductions for interest without actual payment could lead to absurd outcomes and was not permissible under the law. The dispute regarding the deduction of interest payable on purchase tax was resolved in favor of the Department. en-us Wed, 02 Jul 2014 00:00:00 +0530 Mon, 23 Feb 2015 04:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256810 The Court ruled in favor of the Department, holding that interest on tax, duty, or cess is part of the tax liability and cannot be deducted without actual payment. The Court rejected the argument that interest could be treated independently for deductions under Section 43B of the Income-tax Act, 1961. The judgment clarified that allowing deductions for interest without actual payment could lead to absurd outcomes and was not permissible under the law. The dispute regarding the deduction of interest payable on purchase tax was resolved in favor of the Department. Case-Laws Income Tax Wed, 02 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256810