https://www.taxtmi.com/caselaws?id=273628 The High Court of Calcutta ruled in favor of the assessee on the applicability of section 43B of the Income-tax Act, 1961, stating that it did not apply as sales-tax was not debited to the profit and loss account but reflected as a liability in the balance sheet. The Court upheld the deletion of the addition of Rs. 77,439 under section 43B, as the sales-tax account was compliant. Additionally, the Court agreed with allowing a deduction of Rs. 1,23,704 on account of sales-tax, considering the excess sales-tax collected over the amount paid during the year. en-us Fri, 11 Jun 1993 00:00:00 +0530 Thu, 05 Jul 2018 11:09:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273628 The High Court of Calcutta ruled in favor of the assessee on the applicability of section 43B of the Income-tax Act, 1961, stating that it did not apply as sales-tax was not debited to the profit and loss account but reflected as a liability in the balance sheet. The Court upheld the deletion of the addition of Rs. 77,439 under section 43B, as the sales-tax account was compliant. Additionally, the Court agreed with allowing a deduction of Rs. 1,23,704 on account of sales-tax, considering the excess sales-tax collected over the amount paid during the year. Case-Laws Income Tax Fri, 11 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273628