https://www.taxtmi.com/caselaws?id=269720 The Tribunal held that VAT collected should be included in the sale consideration and routed through the Profit & Loss Account. If VAT is not paid before the due date of filing the return, it should be disallowed under section 43B of the Income Tax Act, 1961. The Assessing Officer was directed to verify if the VAT amount was paid before the due date and allow the claim accordingly. The Tribunal distinguished the case from a previous decision on service tax, emphasizing that VAT must be accounted for under section 145A. en-us Fri, 30 Oct 2015 00:00:00 +0530 Sat, 19 Dec 2015 07:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269720 The Tribunal held that VAT collected should be included in the sale consideration and routed through the Profit & Loss Account. If VAT is not paid before the due date of filing the return, it should be disallowed under section 43B of the Income Tax Act, 1961. The Assessing Officer was directed to verify if the VAT amount was paid before the due date and allow the claim accordingly. The Tribunal distinguished the case from a previous decision on service tax, emphasizing that VAT must be accounted for under section 145A. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269720