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1 - 10 of 16 (0.68 seconds)Central Excise Tariff Act, 1985
Section 43B in The Income Tax Act, 1961 [Entire Act]
Section 2 in Central Excise Tariff Act, 1985 [Entire Act]
Section 3 in The Central Excise Act, 1944 [Entire Act]
The Customs Act, 1962
The Customs Tariff Act, 1975
Section 1 in The Central Excise Act, 1944 [Entire Act]
Section 3 in Central Excise Tariff Act, 1985 [Entire Act]
Pr. Commissioner Of Income Tax vs Maruti Suzuki India Limited on 25 July, 2019
32. As can be seen from the provisions of Section 43-B, in particular
explanation-2 added thiseto, the requirement of applicability of the provision
is that an assessee must have actually paid the amount as well as incurred
liability in the previous year for the payment even though such sum might
not have been payable within that year under the relevant law. It is, thus, not
correct that it is only on removal of goods that amount credited to the PLA
could be claimed as deductible under Section 43-B of the Income Tax Act.
This question was first considered by Delhi High Court in CIT vs. Maruti
Suzuki Ltd. 2012 SCC Online Del 6240. Para 14 and 15 of the judgment
are relevant on the issue in hand and are thus reproduced hereunder:-