Quiz for the week (19 Oct 2026) :
Laxmi & Co LLP is engaged in manufacturing activity. It received electricity bill which was Rs.5 lakhs more than its regular amount for 2 consecutive times during FY 2025-26 and the assessee approached ombudsman as regards the erratic bill claim. Pending adjudication, the assessee was directed to deposit the bill amount in a no-lien escrow account. The assessee deposited the amount in March, 2026. Final decision is pending till 21st October,2026. Is the deposit of amount in the no lien escrow account eligible for deduction under section 43B?
Share your thoughts on or before 26.10.2026.