https://www.taxtmi.com/caselaws?id=12587 The High Court upheld the Tribunal's decision in favor of the assessee, allowing the deduction for outstanding sales tax liability under section 43B of the Income-tax Act for the assessment year 1987-88. The Court relied on the retrospective effect of an Explanation to section 43B, emphasizing that if the sales tax liability was paid within 30 days of the end of the quarter, the deduction could not be denied. The Court concluded that the legislative intent was to prevent undue hardship to the assessee, affirming the Tribunal's order and ruling against the Revenue. en-us Thu, 31 Jan 2002 00:00:00 +0530 Wed, 20 May 2009 13:16:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12587 The High Court upheld the Tribunal's decision in favor of the assessee, allowing the deduction for outstanding sales tax liability under section 43B of the Income-tax Act for the assessment year 1987-88. The Court relied on the retrospective effect of an Explanation to section 43B, emphasizing that if the sales tax liability was paid within 30 days of the end of the quarter, the deduction could not be denied. The Court concluded that the legislative intent was to prevent undue hardship to the assessee, affirming the Tribunal's order and ruling against the Revenue. Case-Laws Income Tax Thu, 31 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12587