https://www.taxtmi.com/caselaws?id=9693 The High Court of Rajasthan ruled in a case involving the interpretation of section 43B of the Income-tax Act, 1961 regarding the deductibility of 'issue price' charged by the Excise Department. The court held that 'issue price' was not akin to tax or duty and therefore not covered by section 43B. Additionally, the court clarified that liabilities accrued under contracts do not become contingent due to pending litigation and rejected the Revenue's application, affirming the Tribunal's decision. en-us Tue, 04 Jan 2005 00:00:00 +0530 Mon, 29 Jun 2009 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9693 The High Court of Rajasthan ruled in a case involving the interpretation of section 43B of the Income-tax Act, 1961 regarding the deductibility of 'issue price' charged by the Excise Department. The court held that 'issue price' was not akin to tax or duty and therefore not covered by section 43B. Additionally, the court clarified that liabilities accrued under contracts do not become contingent due to pending litigation and rejected the Revenue's application, affirming the Tribunal's decision. Case-Laws Income Tax Tue, 04 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9693