https://www.taxtmi.com/caselaws?id=62495 The Tribunal held that the Revenue's appeals succeeded, and the assessees' claims for deductions for sales-tax and additional sales-tax were disallowed. The Tribunal emphasized that Section 43B of the Income Tax Act, 1961, as amended, prohibited deductions on an accrual basis, allowing them only on a payment basis. Therefore, for the relevant assessment years, sales-tax was not deductible even if paid within the permitted time under the law, due to the retrospective application of Explanation 2 to Section 43B. The appeals by the Revenue were allowed, and the appeals by the assessees were dismissed. en-us Tue, 12 Sep 1989 00:00:00 +0530 Thu, 20 Jan 2011 10:49:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62495 The Tribunal held that the Revenue's appeals succeeded, and the assessees' claims for deductions for sales-tax and additional sales-tax were disallowed. The Tribunal emphasized that Section 43B of the Income Tax Act, 1961, as amended, prohibited deductions on an accrual basis, allowing them only on a payment basis. Therefore, for the relevant assessment years, sales-tax was not deductible even if paid within the permitted time under the law, due to the retrospective application of Explanation 2 to Section 43B. The appeals by the Revenue were allowed, and the appeals by the assessees were dismissed. Case-Laws Income Tax Tue, 12 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62495