https://www.taxtmi.com/caselaws?id=68159 Section 43B applied only to sums payable by way of tax or duty, so an issue price paid to the Excise Department for the privilege of vending liquor was not disallowable merely because it was collected by the Department; the liability remained deductible under mercantile accounting despite a stay on recovery. Where trading results were not fully verifiable and turnover was substantial, a modest addition to trading income was considered justified and sustained. In business of country liquor contracting, raid expenses were treated as a matter of reasonable estimate, and reduction of the disallowance was upheld because the estimate was not shown to be erroneous. en-us Mon, 22 Aug 1994 00:00:00 +0530 Thu, 17 Mar 2011 13:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68159 Section 43B applied only to sums payable by way of tax or duty, so an issue price paid to the Excise Department for the privilege of vending liquor was not disallowable merely because it was collected by the Department; the liability remained deductible under mercantile accounting despite a stay on recovery. Where trading results were not fully verifiable and turnover was substantial, a modest addition to trading income was considered justified and sustained. In business of country liquor contracting, raid expenses were treated as a matter of reasonable estimate, and reduction of the disallowance was upheld because the estimate was not shown to be erroneous. Case-Laws Income Tax Mon, 22 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68159