Section 43B of Income Tax Act: Interest Conversion to Equity Shares Doesn't Count as 'Actual Payment' for Deductions.

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....Addition u/s 43B - Conversion of interest payable in equity shares - As liability can be discharged in a number of ways, it does emphasize the fundamental principle that unless 'actual payment' is made, the restriction placed in section 43B will hold good and deduction cannot be allowed. - AT....