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TMI Blog2018 (11) TMI 1313X X X X Extracts X X X X X X X X Extracts X X X X ..... ng from the specified financial institutions or state financial institution or state industrial investment corporation, as the case may be. We find no substance in this reason. The Revenue fails to rebut the fact that the legislature has specified various types of payees which nowhere includes a government payee as is the case before us. We make it clear that we are dealing with a disallowance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1843/CIT(A)-2/16-17 ex-parte upholding Assessing Officer s action disallowing / adding interest amount provision of ₹15,02,64,000/- under section 43B, provision of gratuity / leave salary of ₹69,15,000/- and expenditure of ₹32,27,000/-, respectively involving proceedings under section 143(3) of the Act. Heard both the parties. Case file perused. 2. Learned counsel represent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olving the sum in question of ₹15,02,64,000/-. The Assessing Officer invoked section 43B of the Act to conclude that the same would be allowable only on actual payment a based on a mere provision. The CIT(A) upholds the same in his ex-parte lower appellate order. 4. We have given our thoughtful consideration to rival contentions against and in support of the impugned addition. There is ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctly construed. This tribunal s coordinate bench s decision in DCIT vs M/s. Baghpat Co-operative Sugar Mills Ltd. ITA 6855/Del/2015 dated 20.09.2017 has held that section 43B does not apply in case of a government payee. We therefore reverse both the lower authorities action disallowing assessee s provision of interest in question. Its fourth substantive ground succeeds accordingly. 5. This as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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