SC : Affirms Delhi HC ruling in Modipon, balance in PLA account deductible u/s 43B

Nov 24,2017

SC affirms Delhi HC ruling in Modipon Ltd case; HC had held that balance in Personal Ledger Account (PLA) is allowable deduction u/s 43B of the Act; HC had rejected Revenue's contention that deduction for excise duty paid can be allowed  u/s 43B only on removal of the goods from the factory and not at the time of payment in advance which is credited to PLA


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