https://www.taxtmi.com/caselaws?id=5575 SC held that the first proviso to section 43B is retrospective, so sales tax collected and paid after the end of the relevant previous year but within the time permitted under the sales tax statute is deductible while computing business income for that previous year. Earlier High Court decisions treating the proviso as prospective were not sustained. The appeals were allowed and the tax references answered in favour of the assessees and against the Revenue. en-us Mon, 10 Mar 1997 00:00:00 +0530 Mon, 13 Oct 2025 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5575 SC held that the first proviso to section 43B is retrospective, so sales tax collected and paid after the end of the relevant previous year but within the time permitted under the sales tax statute is deductible while computing business income for that previous year. Earlier High Court decisions treating the proviso as prospective were not sustained. The appeals were allowed and the tax references answered in favour of the assessees and against the Revenue. Case-Laws Income Tax Mon, 10 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5575