https://www.taxtmi.com/caselaws?id=329273 The Tribunal upheld the CIT(Appeals)' decision that the adjustment of the refund towards the excise duty liability constituted actual payment, allowing the deduction claimed by the assessee under section 43B. It emphasized that the liability accrued when demand notices were issued by the excise department, regardless of accounting treatment. Relying on legal precedents, the Tribunal concluded that the excise duty was effectively discharged through the refund adjustment, dismissing the Revenue's appeal and affirming the allowance of the deduction. en-us Tue, 21 Jun 2016 00:00:00 +0530 Sun, 26 Jun 2016 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329273 The Tribunal upheld the CIT(Appeals)' decision that the adjustment of the refund towards the excise duty liability constituted actual payment, allowing the deduction claimed by the assessee under section 43B. It emphasized that the liability accrued when demand notices were issued by the excise department, regardless of accounting treatment. Relying on legal precedents, the Tribunal concluded that the excise duty was effectively discharged through the refund adjustment, dismissing the Revenue's appeal and affirming the allowance of the deduction. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329273