https://www.taxtmi.com/caselaws?id=10168 The Tribunal allowed the deduction of sales tax liability under section 43B of the Income-tax Act, 1961, for an assessee who collected but did not pay the sales tax within the relevant accounting period due to a deferred payment scheme. The Tribunal considered the specific rules of the scheme introduced by the Sales Tax Department of the Haryana Government, allowing the retention of tax amounts for a prescribed period. Citing Circular No. 496, the decision aligned with a similar Gujarat High Court case, ruling in favor of the assessee's entitlement to the deduction and against the Revenue. en-us Mon, 11 Oct 2004 00:00:00 +0530 Thu, 09 Jul 2009 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10168 The Tribunal allowed the deduction of sales tax liability under section 43B of the Income-tax Act, 1961, for an assessee who collected but did not pay the sales tax within the relevant accounting period due to a deferred payment scheme. The Tribunal considered the specific rules of the scheme introduced by the Sales Tax Department of the Haryana Government, allowing the retention of tax amounts for a prescribed period. Citing Circular No. 496, the decision aligned with a similar Gujarat High Court case, ruling in favor of the assessee's entitlement to the deduction and against the Revenue. Case-Laws Income Tax Mon, 11 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10168