M/s Lakshmi Sugar Mills Co Ltd v. Commissioner of Income Tax, Delhi - II
2026 INSC 116227 October 202615 min read
Supreme Court Rules Section 43B Disallowance Invalid Where Assessee Never Claimed Excise Duty Deduction
The Supreme Court held that Section 43B cannot be invoked to disallow unpaid excise duty when the assessee never claimed it as a deduction in the profit and loss account.
Case Snapshot
- Case Name
- M/s. Lakshmi Sugar Mills Co. Ltd. v. Commissioner of Income Tax, Delhi - II
- Citation
- 2026 INSC 1162
- Bench
- Justice S.V.N. Bhatti and Justice N.V. Anjaria
- Date of Judgment
- October 27, 2026
- Area of Law
- Income Tax Act, 1961 – Sections 43B and 145A – Excise Duty on Closing Stock – Valuation of Inventory
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