https://www.taxtmi.com/caselaws?id=55344 The Tribunal upheld the CIT(A)'s decision to delete the additions made under Section 43B for the assessment years 1985-86 and 1986-87. It ruled that the provisions of Section 43B were not applicable to the assessee's case, as the excise duty amounts were deposited in fixed deposit receipts (FDRs) in compliance with the Supreme Court's directions and not utilized for business purposes. The Tribunal emphasized interpreting statutory provisions in line with legislative intent and deemed the FDR deposits and bank guarantees as constituting 'actual payment' under Section 43B. The Revenue's appeals were dismissed. en-us Tue, 21 Mar 2000 00:00:00 +0530 Thu, 25 Nov 2010 17:01:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55344 The Tribunal upheld the CIT(A)'s decision to delete the additions made under Section 43B for the assessment years 1985-86 and 1986-87. It ruled that the provisions of Section 43B were not applicable to the assessee's case, as the excise duty amounts were deposited in fixed deposit receipts (FDRs) in compliance with the Supreme Court's directions and not utilized for business purposes. The Tribunal emphasized interpreting statutory provisions in line with legislative intent and deemed the FDR deposits and bank guarantees as constituting 'actual payment' under Section 43B. The Revenue's appeals were dismissed. Case-Laws Income Tax Tue, 21 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55344