C.I.T-II NEW DELHI v. M/S MODIPON LTD.
Supreme Court of India | Diary 10090/2012
Status
ROP - of Main Case
Decided On
23-02-2018
Bench
HON'BLE MR. JUSTICE RANJAN GOGOI and HON'BLE MRS. JUSTICE R. BANUMATHI
Petitioner
C.I.T-II NEW DELHI
Respondent
M/S MODIPON LTD.
Primary Holding
**Primary Holding:** Advance deposit of central excise duty in a Personal Ledger Account constitutes "actual payment" within the meaning of Section 43B of the Income Tax Act, 1961, entitling an assessee to claim deduction thereon, as such deposit is irretrievably credited to the Revenue and beyond the assessee's control.
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