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Case Law Details

Case Name : PCIT Vs. Tops Security Limited (Bombay High Court)
Related Assessment Year : 2006-07
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Principal CIT Vs. Tops Security Limited (Bombay High Court)

The Assessing Officer was of the view that by virtue of Section 43B of the Income Tax Act, 1961, service tax can be allowed only when paid and therefore the amount is not liable as deduction.

On appeal Hon;ble High Court held that Section 43B does not contemplate liability to pay service tax before actual receipt of the funds in the accoun

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