Court orders Tribunal to consider deducting sales tax in computing taxable income. Reference ordered.

The High Court of Allahabad directed the Tribunal to consider whether sales tax paid in a subsequent year can be deducted in computing taxable income for the assessment year 1984-85, in light of Explanation 2 to section 43B of the Income-tax Act, 1961. Reference ordered, no costs.

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The High Court of Allahabad directed the Tribunal to consider whether sales tax paid in a subsequent year can be deducted in computing taxable income for the assessment year 1984-85, in light of Explanation 2 to section 43B of the Income-tax Act, 1961. Reference ordered, no costs. [Case citation: 1991 (3) TMI 54 - ALLAHABAD High Court]

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