https://www.taxtmi.com/caselaws?id=12371 Royalty was treated as a tax-like compulsory exaction for purposes of section 43B of the Income-tax Act, 1961, following the settled understanding drawn from India Cement Ltd. and later decisions. On that basis, unpaid royalty liability fell within the statutory bar and was not deductible until actually paid. The reference was answered in favour of the Revenue and against the assessee. en-us Fri, 10 May 2002 00:00:00 +0530 Tue, 23 Feb 2010 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12371 Royalty was treated as a tax-like compulsory exaction for purposes of section 43B of the Income-tax Act, 1961, following the settled understanding drawn from India Cement Ltd. and later decisions. On that basis, unpaid royalty liability fell within the statutory bar and was not deductible until actually paid. The reference was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Fri, 10 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12371