Friday, 29 November 2013

Payment of interest by knocking it off against any sum recoverable from creditor is 'actual payment'

IT: In terms of section 43B(d), if interest is paid not by actually receiving amount from loan advancing person or institution but is paid out of fund lying in any another account of assessee with such creditor, it amounts to actual payment and disallowance under section 43B can not be made in respect of said payment


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