https://www.taxtmi.com/caselaws?id=255271 The court held that under Section 43B of the Income Tax Act, the deduction of sales tax is required only upon remittance to the State Exchequer. In cases of deferment, the amount must be remitted at the end of the deferment period without interest. Failure to remit could result in taxation, penalties, and interest. The court allowed the appeal, overturning the Tribunal's decision and reinstating the Commissioner's allowance of the deduction for the appellant's separate sales tax account. en-us Wed, 10 Dec 2014 00:00:00 +0530 Tue, 13 Jan 2015 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255271 The court held that under Section 43B of the Income Tax Act, the deduction of sales tax is required only upon remittance to the State Exchequer. In cases of deferment, the amount must be remitted at the end of the deferment period without interest. Failure to remit could result in taxation, penalties, and interest. The court allowed the appeal, overturning the Tribunal's decision and reinstating the Commissioner's allowance of the deduction for the appellant's separate sales tax account. Case-Laws Income Tax Wed, 10 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255271