Deduction u/s 43B - Payment of Excise duty - double deduction or ...

Case Laws Income Tax

February 6, 2024

Deduction u/s 43B - Payment of Excise duty - double deduction or not - The High Court held that, Section 43B of the Act, which came to be introduced from Assessment Year 1984- 1985 onwards, provides that the excise duty would be deductible only on the payment basis in the year in which it is actually paid. Therefore, the Tribunal was not correct in coming to a conclusion that this amount would amount to double deduction.

View Source

← Previous Next →

Deduction u/s 43B - Payment of Excise duty - double deduction or ...

Case Laws Income Tax

February 6, 2024

You may also like:

Disallowance of excise duty - an item of section 43B - Since the excise authority held that CENVAT credit on fuel used for generation of electricity supplied to the...

Deduction u/s 43B - payment of bonus - u/s 43B only actual payment and not any notional or deemed payment that would be relevant for considering the deduction - HC

Deduction u/s 43B - non payment of excise duty in cash - actual payment - adjustment of refund from Central Excise and Customs - The claim would not be hit by section...

When excise duty is exempted, there is no question of payment of additional duty - SC

Treatment of unutilised MODVAT credit, balance as at the end of the year as payment of excise duty - Deduction u/s 43B - Excise duty paid in advance in the Personal...

Utilization of Cenvat credit of basic excise duty for payment of National Calamity Contingent Duty (NCCD) - there is no bar in utilization of basic excise duty for payment of NCCD.

Recovery of wrongly utilized credit - utilization of Cenvat Credit availed on Basic Excise Duty (BED) for payment of EC and SHEC - Period between April 2013 and January...

Claim of refund amount on account of double-payment of Customs Duty

Claim of deduction of unknown liability towards customs duty - Deduction u/s 43B - Fresh claim before AO during the course of assessment proceedings - Since the assessee...

Allowability of excise duty refund u/s 80IB - There is an inextricable link between the manufacturing activity, the payment of central excise duty and its refund -...

In view of the provisions of section 43B, Excise duty/customs duty paid by the assessee in a particular accounting year is allowable as deduction in such year

Deduction u/s 80 IB - Central Excise Duty refund & interest subsidy - held as Capital receipt - AT

Excise duty & Sales Tax to be excluded from turnover for computing deduction u/s 80HHE - AT

Deduction u/s 43B disallowed - In the present case, the liability to pay Excise Duty of the assessee is incurred on the removal of finished goods in the subsequent year...

Disallowance of interest on customs duty - As customs duty is allowable only on payment basis under section 43B, interest levied on arrears or late payment of customs...

Quick Updates: