https://www.taxtmi.com/caselaws?id=759818 Section 43B applies only to the specified statutory liabilities and to interest on loans or borrowings from the institutions covered by the provision. Unpaid interest routed through the State Government, even where the underlying funds originated from the World Bank, was not treated as a covered liability, and the related disallowance was deleted. Section 43B(a) also covers tax, duty, cess or fee only where the liability is the assessee's own charge. Electricity duty under the Rajasthan Electricity Duty Act was held to be a levy on consumers, with the assessee acting only as collecting agent; the amount adjusted against subsidy was therefore not disallowable. The assessee succeeded on both substantive issues. en-us Thu, 30 May 2024 00:00:00 +0530 Mon, 07 Oct 2024 10:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759818 Section 43B applies only to the specified statutory liabilities and to interest on loans or borrowings from the institutions covered by the provision. Unpaid interest routed through the State Government, even where the underlying funds originated from the World Bank, was not treated as a covered liability, and the related disallowance was deleted. Section 43B(a) also covers tax, duty, cess or fee only where the liability is the assessee's own charge. Electricity duty under the Rajasthan Electricity Duty Act was held to be a levy on consumers, with the assessee acting only as collecting agent; the amount adjusted against subsidy was therefore not disallowable. The assessee succeeded on both substantive issues. Case-Laws Income Tax Thu, 30 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759818