Dr. Vineet Kothari, J.

1. Tamil Nadu Minerals Limited (“TAMIN” in short), a Government of Tamil Nadu Undertaking, engaged in the mining, manufacture and sale of granites, quarrying granite blocks from the mines leased out to it by the State Government itself, has filed this appeal under Section 260A of the Income Tax Act, 1961 ('Act' in short), raising the following substantial questions of law, arising from the order of the Income Tax Appellate Tribunal, 'C' Bench, Chennai dated 30.06.2008 in ITA No.1541/Mds/ 2007 for the Assessment Year 2004-2005, whereby the learned Tribunal held against the Assessee that the “nomination charges” paid by it to the State Government at the rate of 10% of the turnover of granite blocks was liable to be disallowed as an expenditure on account of Section 43B of the Act, since the said payment was not made within the time allowed for filing of Return of income for the Assessment Year 2004-2005, i.e., 30.11.2004, but was paid to the State Government with a delay of 9 days on 09.12.2004, and thus the amount of Rs.11.54 Crores which was paid as 'nomination charges' by the present Assessee to the State Government, was disallowed as an expenditure