A lmited company has been consistantly disallowing unpaid interest u/s 43 B over a number of yearrs.
Now the company has been demerged and the bank has closed the loan account in the name of the company and sanctioned frersh limits to the demerged company.
Now that the original company is totally absolved of the liability, it shall be deemed that the principal and interest component is deemed to have been paid.
I have claimed deduction u/s 43B which the department is not in agreement.
I would like to have case laws in my favour.
My mail address is aarceeco@gmail.com
Ramesh C Halappanavar
40. 4th main, vyalikaval
bangalore 560003
cell: 9448110744