Court :
Supreme Court of India
Brief :
The Hon’ble Supreme Court, set aside the judgment of the Delhi High Court by observing Explanation 3C to be clarificatory as it explains Section 43B(d) the way it originally stood and does not purport to add a new condition retrospectively. Held, the High Court has erred in observing that interest has been converted into a loan.
Citation :
CIVIL APPEAL NOS.4742-4743 OF 2021 dated August 11,2021
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