Court :
Brief :
Case Fact: Whether a business expenditure deductible on actual payment basis in accordance with section 43B be allowable even if it is not actually allowable under section 29 read with sections 37(1), 145?
Citation :
CIT Vs. Kerela Solvent Extractions Ltd
Decision: Held by the Hon`able Court that section 43B lays down only an aditional condition for allowing deduction which is otherwise allowable under the provisions of Income Tax Act. Therefore if an expenditure is not allowable under the Income Tax Act, it shall not be allowed merely because it fulfills the conditions laid down in Section 43B.
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