https://www.taxtmi.com/caselaws?id=363180 The Court interpreted Section 43B of the Income Tax Act, 1961, focusing on the disallowance of expenses and the application of the second proviso. The appellant successfully argued that the second proviso should be applied retrospectively, entitling them to claim the benefit of Section 43B. The Court agreed with this interpretation, emphasizing the requirement of payment before filing the income tax return. As a result, the substantial question of law was answered in favor of the appellant, leading to the appeal being allowed with no costs awarded. en-us Mon, 02 Jul 2018 00:00:00 +0530 Mon, 09 Jul 2018 08:26:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363180 The Court interpreted Section 43B of the Income Tax Act, 1961, focusing on the disallowance of expenses and the application of the second proviso. The appellant successfully argued that the second proviso should be applied retrospectively, entitling them to claim the benefit of Section 43B. The Court agreed with this interpretation, emphasizing the requirement of payment before filing the income tax return. As a result, the substantial question of law was answered in favor of the appellant, leading to the appeal being allowed with no costs awarded. Case-Laws Income Tax Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363180