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Waiver of Interest on Government Loan and LIC Guarantee Fee Not Upheld u/s 41(1); Not Classified Under 43B.

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....Disallowance in respect of waiver of interest on Government of India Loan - guarantee fee of LIC, u/s 41(1) - the stand of the department in earlier years is that the same is covered u/s 43B and therefore not allowable - Therefore, addition on account of Section 41(1) does not sustain.....

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Waiver of Interest on Government Loan and LIC Guarantee Fee Not Upheld u/s 41(1); Not Classified Under 43B.