2010 (3) TMI 863

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....nging the order dated June 20, 2005, passed in I. T. A. No. 1689/ Bang/2002 on the following substantial questions of law :   "(i) Whether the Tribunal should have examined the controversy raised by the Assessing Officer that on amount of Rs. 7,52,34,374, a sum of Rs. 5,29,47,942 customs and excise duty debited to the profit and loss account was not an allowable deduction as the assessee h....

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....y before the due date. 3. In the instant case, the respondent-assessee claimed deduction in respect of the customs and excise duty paid by virtue of section 43B of the Income-tax Act. The Assessing Officer by his order had stated that the actual payment had not been established and, therefore, a sum of Rs.5,29,47,942 was disallowed under section 43B of the Act. The Commis- sioner of Income-tax ....

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.... there was actual payment of customs and excise duty so as to seek the benefit under section 43B of the Act. In the said notes, it is categorically stated that while computing the total income the Assessing Officer had disallowed a sum of Rs. 5,29,47,942 under section 43B(a) of the Act on the ground that the assessee-company had not established the actual payment of customs and excise duty with ne....