https://www.taxtmi.com/caselaws?id=14259 Kist payable under the excise arrangement was treated as consideration for obtaining the exclusive right to vend liquor, not as excise duty or tax. On that construction of the Karnataka Excise Act, 1965 and the relevant notifications, it was held that the amount was not a statutory impost covered by section 43B of the Income-tax Act, 1961, and therefore no disallowance under that provision arose. The reference was answered in favour of the assessee and against the Revenue. en-us Thu, 10 Feb 2000 00:00:00 +0530 Tue, 14 Jul 2009 17:44:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14259 Kist payable under the excise arrangement was treated as consideration for obtaining the exclusive right to vend liquor, not as excise duty or tax. On that construction of the Karnataka Excise Act, 1965 and the relevant notifications, it was held that the amount was not a statutory impost covered by section 43B of the Income-tax Act, 1961, and therefore no disallowance under that provision arose. The reference was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Thu, 10 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14259