1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.405 OF 2007 The Commissioner of Income Tax – V, Pune ..Appellant. Versus Biostar Pharmaceutical Limited, Pune ..Respondent. Mr.Vimal Gupta for the appellant. Mr.Anil Mishra i/by PKP Legal Solutions for the respondent. CORAM : Dr.D.Y. Chandrachud & J.P. Devadhar, JJ. DATE : 19th January, 2010. P.C. : 1. The appeal is admitted on the following substantial question of law : “Whether on the facts and in the circumstances of the case and in law, the Appellate Tribunal was right in holding that furnishing of Bank guarantee amounts to actual payment in view of the provisions of Section 43B ?” 2. The question before the Court is concluded against the assessee by the judgment of the Supreme Court in Commissioner of Income Tax V/s. McDowell Company (2009) 180 Taxman 514 (S.C.). In the circumstances, the question of law shall stand answered in the negative, in terms of the judgment of the Supreme Court noted above. The appeal is accordingly allowed. There shall be no order as to costs. (J.P. Devadhar, J.) (Dr.D.Y. Chandrachud, J.)