No disallowance u/s. 43B when deduction not claimed in P&L account

Dushyantsinh Yadvendrasinh Chudasama Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that no disallowance under Section 43B of the Act can be made when deduction is not claimed in the profit and loss account [P&L account], and the liability is disclosed as a current liability. Accordingly, matter restored to AO to verify VAT liability. Facts- The assessee is engaged in the business of trading in petrol, diesel, and oil under the proprietorship concern M/s Rudra Petroleum. For A.Y. 2014-15, AO disallowed interest payments of Rs.11,500/- made to M/s H J Associates u/s. 40(a)(ia) of the Act for ...