https://www.taxtmi.com/caselaws?id=172959 The court held that deductions for sales tax collected but not paid in the same year are only allowable in the years when the tax was actually paid, as per Section 43B of the Income-tax Act, 1961. The judgments prior to the introduction of Section 43B were distinguished, emphasizing that deductions must align with the year of actual payment, not collection, regardless of the accounting method used by the assessee. The decision favored the revenue, affirming that deductions under Section 43B are permissible only in the year of actual payment. en-us Wed, 18 Aug 1999 00:00:00 +0530 Fri, 04 Sep 2015 15:56:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172959 The court held that deductions for sales tax collected but not paid in the same year are only allowable in the years when the tax was actually paid, as per Section 43B of the Income-tax Act, 1961. The judgments prior to the introduction of Section 43B were distinguished, emphasizing that deductions must align with the year of actual payment, not collection, regardless of the accounting method used by the assessee. The decision favored the revenue, affirming that deductions under Section 43B are permissible only in the year of actual payment. Case-Laws Income Tax Wed, 18 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172959