https://www.taxtmi.com/caselaws?id=264497 The judgment dismisses the appeal, affirming the validity of the rectification under section 154 of the Income Tax Act. It clarifies that deductions under section 43B must be claimed in the year of payment, and since the primary condition was not met, rectification was justified. The decision provides in-depth analysis on various issues raised, including the maintainability of invoking section 154, disallowance of expenses under section 43B, transfer of liabilities on sale of undertaking, and the constitutional validity of section 43B(f) regarding leave encashment salary deductions. en-us Fri, 26 Jun 2015 00:00:00 +0530 Thu, 28 Feb 2019 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264497 The judgment dismisses the appeal, affirming the validity of the rectification under section 154 of the Income Tax Act. It clarifies that deductions under section 43B must be claimed in the year of payment, and since the primary condition was not met, rectification was justified. The decision provides in-depth analysis on various issues raised, including the maintainability of invoking section 154, disallowance of expenses under section 43B, transfer of liabilities on sale of undertaking, and the constitutional validity of section 43B(f) regarding leave encashment salary deductions. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264497