https://www.taxtmi.com/caselaws?id=275196 The High Court upheld the Tribunal's decision, ruling in favor of the assessee regarding the deductibility of excess sales tax paid under section 43B of the Income Tax Act. The Court emphasized that the excess tax should be treated as an expenditure incurred during the relevant assessment year and any refund as part of the income return. Additionally, the Court rejected the revenue's argument on the treatment of deficit tax, affirming that even if the assessee pays excess tax, it should be considered an expenditure for the relevant assessment year. en-us Wed, 16 Jan 2008 00:00:00 +0530 Fri, 21 Sep 2018 11:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275196 The High Court upheld the Tribunal's decision, ruling in favor of the assessee regarding the deductibility of excess sales tax paid under section 43B of the Income Tax Act. The Court emphasized that the excess tax should be treated as an expenditure incurred during the relevant assessment year and any refund as part of the income return. Additionally, the Court rejected the revenue's argument on the treatment of deficit tax, affirming that even if the assessee pays excess tax, it should be considered an expenditure for the relevant assessment year. Case-Laws Income Tax Wed, 16 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275196