https://www.taxtmi.com/caselaws?id=9805 The High Court of Madras ruled in favor of the assessee in a case involving the interpretation of section 43B of the Income-tax Act regarding the treatment of sales tax collected but not paid. The court held that section 43B does not apply when the assessee does not claim the amount collected as a deduction, emphasizing that the provision is triggered only when the sum payable is actually paid by the assessee. The court declined to answer the Revenue's question, stating that the real issue was whether section 43B could be invoked, not whether the sales tax formed part of trading receipts. en-us Wed, 25 Jan 2006 00:00:00 +0530 Wed, 01 Jul 2009 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9805 The High Court of Madras ruled in favor of the assessee in a case involving the interpretation of section 43B of the Income-tax Act regarding the treatment of sales tax collected but not paid. The court held that section 43B does not apply when the assessee does not claim the amount collected as a deduction, emphasizing that the provision is triggered only when the sum payable is actually paid by the assessee. The court declined to answer the Revenue's question, stating that the real issue was whether section 43B could be invoked, not whether the sales tax formed part of trading receipts. Case-Laws Income Tax Wed, 25 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9805