https://www.taxtmi.com/caselaws?id=66911 Deferred sales-tax claims under section 43B are allowable only when the State deferment scheme treats the liability as duly converted into final loan liability in the prescribed manner. Under the M.P. General Sales-tax Act, tax is deemed paid only on such conversion, and an eligibility certificate by itself does not satisfy that requirement. An assessment that allows the deduction without examining the conversion condition and supporting statutory scheme is treated as erroneous and prejudicial to revenue, making revisional action under section 263 available. en-us Fri, 18 Aug 2000 00:00:00 +0530 Sat, 18 Feb 2017 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66911 Deferred sales-tax claims under section 43B are allowable only when the State deferment scheme treats the liability as duly converted into final loan liability in the prescribed manner. Under the M.P. General Sales-tax Act, tax is deemed paid only on such conversion, and an eligibility certificate by itself does not satisfy that requirement. An assessment that allows the deduction without examining the conversion condition and supporting statutory scheme is treated as erroneous and prejudicial to revenue, making revisional action under section 263 available. Case-Laws Income Tax Fri, 18 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66911