https://www.taxtmi.com/circulars?id=5090 For deferred sales tax schemes, Government Orders that deem deferred collections as collected and disbursed are treated as effecting discharge of the statutory liability for the purposes of section 43B, so sales tax liabilities converted into loans may be allowed as a deduction in the previous year in which such conversion is permitted; conversely, interest converted into loans is deductible only when actually paid and, if merged with principal, the interest component must be determined proportionately. en-us Wed, 29 Dec 1993 00:00:00 +0530 Sat, 09 Aug 2008 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5090 For deferred sales tax schemes, Government Orders that deem deferred collections as collected and disbursed are treated as effecting discharge of the statutory liability for the purposes of section 43B, so sales tax liabilities converted into loans may be allowed as a deduction in the previous year in which such conversion is permitted; conversely, interest converted into loans is deductible only when actually paid and, if merged with principal, the interest component must be determined proportionately. Circulars Income Tax Wed, 29 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5090