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section 43b (d) income tax act

Querist : Anonymous (Querist) 11 February 2011 This query is : Resolved 
Whether conversion of upaid interest into Zero Coupon prefernce shares redeemable after 9 yeas, amounting to 'actual payment' u/s 43B (d) be allowed as deduction or not ?

Give some decided cases also
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soumitra basu (Expert) 15 March 2011
Conversion is not amounting to actual payment as mentioned in section 43B of the act.

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