banner_ad

U/s 43 b

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 June 2013 Sir,

Interest U/s 36/2 of VAT Act is levied against which and appeal is pending before the commission whether such interest is to be treated as Tax for the purpose of disallowed U/s 43 B of Income Tax Act.If the same is treated as interest then will not be any dis-allowance.

Please give proper suggestion.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
23 June 2013 Since the interest demand is pending in appeal, until the appeal is decided, it does not become the liability of the assessee.
.
However, if the interest liability has been recorded in the books on the basis of the AO's order, it is a kind of tax being known as "whatever" name. For the purpose of Section 43B it should be disallowed.
.
Logically, also the above treatment stands in favour of the assessee.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details