Disputed Tax Liabilities u/s 43B: Impact on Customs Duty, Excise, Interest, and Penalty Recognition.

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....Allowability of expenditure u/s. 43B - Expenditure incurred under the head customs duty, excise duty, interest and penalty on payment basis - the payment has been made by the assessee under protest. Therefore, the amount is definitely a disputed liability and cannot be said that the liability has crystallized/accrued to the assessee during the relevant assessment year - AT....