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ALLOWABILITY OF OUTSTANDING INTEREST CONVERTED INTO DEBENTURES AS AN EXPENSE U/S 43B OF THE INCOME TAX, 1961

Key Takeaways:

  • Facts and issues of the case
  • Rationale behind the section
  • Ruling of lower jurisdiction authorities
  • Rival submissions before the Honourable Supreme Court
  • Observations and final rulings of Honourable Supreme Court
  • Way Forward

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