https://www.taxtmi.com/caselaws?id=294214 The appeal was filed against the disallowance of interest accrued but not paid under section 43B(d) of the Income Tax Act for the Assessment Year 2008-09. The CIT(A) restricted the disallowance to Rs. 15,24,100 as the amount charged in the profit and loss account. The Tribunal reversed the CIT(A)'s decision, holding that if the interest was payable to the Government of India or the Uttar Pradesh government, section 43B(d) did not apply. Therefore, the appeal of the assessee was allowed, and the disallowance under section 43B(d) was reversed. en-us Fri, 11 Mar 2016 00:00:00 +0530 Sat, 27 Mar 2021 07:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294214 The appeal was filed against the disallowance of interest accrued but not paid under section 43B(d) of the Income Tax Act for the Assessment Year 2008-09. The CIT(A) restricted the disallowance to Rs. 15,24,100 as the amount charged in the profit and loss account. The Tribunal reversed the CIT(A)'s decision, holding that if the interest was payable to the Government of India or the Uttar Pradesh government, section 43B(d) did not apply. Therefore, the appeal of the assessee was allowed, and the disallowance under section 43B(d) was reversed. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294214