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Case Law Details

Case Name : CIT Vs Mcdowell & Co. Ltd (Supreme Court of India)
Related Assessment Year :
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RELEVANT PARAGRAPH

8. We shall first deal with the question whether furnishing of bank guarantee amounts to actual payment and fulfils the conditions stipulated in section 43B of the Act. The requirement of Section 43B of the Act is the actual payment and not deemed payment as condition precedent for making the claim for deduction in respect of any of the expenditure incurred by the assessee during the relevant previous year specified in Section 43B.

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