https://www.taxtmi.com/caselaws?id=12155 The Tribunal correctly set aside the Assessing Officer's order and ruled in favor of the assessee, holding that sales tax paid during the grace period is deductible under section 43B of the Income-tax Act. The Tribunal's decision was based on the retrospective nature of the first proviso to section 43B, as established by the Supreme Court in Allied Motors (P.) Ltd. v. CIT [1997] 224 ITR 677, and supported by various High Court judgments. The Tribunal's ruling aligned with the legal position that sales tax paid within the grace period is not subject to disallowance under section 43B. en-us Mon, 04 Feb 2002 00:00:00 +0530 Thu, 18 Feb 2010 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12155 The Tribunal correctly set aside the Assessing Officer's order and ruled in favor of the assessee, holding that sales tax paid during the grace period is deductible under section 43B of the Income-tax Act. The Tribunal's decision was based on the retrospective nature of the first proviso to section 43B, as established by the Supreme Court in Allied Motors (P.) Ltd. v. CIT [1997] 224 ITR 677, and supported by various High Court judgments. The Tribunal's ruling aligned with the legal position that sales tax paid within the grace period is not subject to disallowance under section 43B. Case-Laws Income Tax Mon, 04 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12155