https://www.taxtmi.com/caselaws?id=5565 The Supreme Court held that under the mercantile system of accounting, the liability to pay sales tax accrues when sales subject to tax are made, regardless of disputes. The court affirmed that the obligation to pay sales tax arises at the time of sale. Therefore, the court dismissed the appeal regarding the deduction of a sales tax composition fee as an expenditure for the assessment year 1968-69, in line with precedents and without awarding costs. en-us Wed, 19 Feb 1997 00:00:00 +0530 Wed, 26 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5565 The Supreme Court held that under the mercantile system of accounting, the liability to pay sales tax accrues when sales subject to tax are made, regardless of disputes. The court affirmed that the obligation to pay sales tax arises at the time of sale. Therefore, the court dismissed the appeal regarding the deduction of a sales tax composition fee as an expenditure for the assessment year 1968-69, in line with precedents and without awarding costs. Case-Laws Income Tax Wed, 19 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5565