https://www.taxtmi.com/caselaws?id=186980 The High Court upheld the Tribunal's decision allowing the deduction claimed by the assessee under section 43B of the Income-tax Act, 1961 for a Special Value Branch (SVB) deposit made with the Customs authorities. The Court found that the payment was necessitated by the demand notice issued by the Customs authorities and directed verification of any excess payment for taxation, limiting the liability to the relevant assessment year. The Court dismissed the appeal, stating that the payment fell within the scope of section 43B and no significant legal question arose for consideration. en-us Fri, 17 Aug 2007 00:00:00 +0530 Thu, 06 Oct 2016 09:54:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186980 The High Court upheld the Tribunal's decision allowing the deduction claimed by the assessee under section 43B of the Income-tax Act, 1961 for a Special Value Branch (SVB) deposit made with the Customs authorities. The Court found that the payment was necessitated by the demand notice issued by the Customs authorities and directed verification of any excess payment for taxation, limiting the liability to the relevant assessment year. The Court dismissed the appeal, stating that the payment fell within the scope of section 43B and no significant legal question arose for consideration. Case-Laws Income Tax Fri, 17 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186980