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Allowability- interest payable on deposits to bank
Dear friends can somebody tell me exact section of I T Act and some case laws which may prove that provision made by a bank for "interest payable on deposits" is deductible in assessment of bank. I know it is allowable but the A.O. is disallowing it since it is not actually paid and provision is not allowable. Its URGENT. Thanks
Replies (3)
if you have not paid till now, it will not allow.
sir,Please refer Clauses from a to f of section 43B
sir,please saw the attached file
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