https://www.taxtmi.com/caselaws?id=57639 The Tribunal dismissed the appeal, upholding the disallowance of interest under section 143(1)(a) of the Income-tax Act for the assessment year 1997-98. The decision was based on the interpretation of the law as per the Madras High Court decision, emphasizing the applicability of section 43B and the requirement of actual payment of interest, regardless of loan restructuring or liability incurrence. The Tribunal rejected the assessee's argument of constructive discharge of interest liability through loan restructuring, siding with the Revenue's position supported by relevant case laws cited by the Departmental Representative. en-us Fri, 27 Feb 2004 00:00:00 +0530 Sat, 11 Dec 2010 12:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57639 The Tribunal dismissed the appeal, upholding the disallowance of interest under section 143(1)(a) of the Income-tax Act for the assessment year 1997-98. The decision was based on the interpretation of the law as per the Madras High Court decision, emphasizing the applicability of section 43B and the requirement of actual payment of interest, regardless of loan restructuring or liability incurrence. The Tribunal rejected the assessee's argument of constructive discharge of interest liability through loan restructuring, siding with the Revenue's position supported by relevant case laws cited by the Departmental Representative. Case-Laws Income Tax Fri, 27 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57639