https://www.taxtmi.com/caselaws?id=11142 The High Court ruled against the Revenue, upholding the Tribunal's decision to set aside the Assessing Officer's order and directing not to disallow the amount under section 43B of the Income-tax Act, 1961. The Court applied the first proviso to section 43B retrospectively, in line with legal principles and precedents, emphasizing that sales tax payments during the grace period should not be disallowed. The judgment aligned with the interpretation that the timing of sales tax payment in relation to the accounting year determines the applicability of section 43B, ultimately favoring the assessee in the case. en-us Mon, 04 Feb 2002 00:00:00 +0530 Fri, 31 Jul 2009 19:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11142 The High Court ruled against the Revenue, upholding the Tribunal's decision to set aside the Assessing Officer's order and directing not to disallow the amount under section 43B of the Income-tax Act, 1961. The Court applied the first proviso to section 43B retrospectively, in line with legal principles and precedents, emphasizing that sales tax payments during the grace period should not be disallowed. The judgment aligned with the interpretation that the timing of sales tax payment in relation to the accounting year determines the applicability of section 43B, ultimately favoring the assessee in the case. Case-Laws Income Tax Mon, 04 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11142