https://www.taxtmi.com/caselaws?id=61940 Sales tax collected by a dealer in the course of sales is treated as part of trading receipts under the governing sales tax principles. Although an assessee using the mercantile system would ordinarily claim deduction for accrued statutory liability, section 43B postpones deduction only when the tax or duty has become payable and remains unpaid. On the stated facts, the sales tax collections for the relevant period were not yet due for remittance before the accounting year ended, so section 43B did not apply and the amount could not be brought to tax in the assessee's hands for that assessment year. en-us Thu, 31 Jul 1986 00:00:00 +0530 Mon, 17 Jan 2011 11:58:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61940 Sales tax collected by a dealer in the course of sales is treated as part of trading receipts under the governing sales tax principles. Although an assessee using the mercantile system would ordinarily claim deduction for accrued statutory liability, section 43B postpones deduction only when the tax or duty has become payable and remains unpaid. On the stated facts, the sales tax collections for the relevant period were not yet due for remittance before the accounting year ended, so section 43B did not apply and the amount could not be brought to tax in the assessee's hands for that assessment year. Case-Laws Income Tax Thu, 31 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61940