https://www.taxtmi.com/caselaws?id=24529 The High Court held that the sales tax liability should have been claimed in the year it accrued (1968-69) under the mercantile system of accounting, not when quantified (1971-72). Disagreeing with the Assam High Court, the court aligned with other High Courts, stating that the liability arises when the transaction occurs. The Tribunal's decision to allow the deduction for the assessment year 1971-72 was deemed erroneous. The judgment favored the Revenue, with no costs awarded. en-us Wed, 30 Nov 1988 00:00:00 +0530 Wed, 20 Jan 2010 17:13:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24529 The High Court held that the sales tax liability should have been claimed in the year it accrued (1968-69) under the mercantile system of accounting, not when quantified (1971-72). Disagreeing with the Assam High Court, the court aligned with other High Courts, stating that the liability arises when the transaction occurs. The Tribunal's decision to allow the deduction for the assessment year 1971-72 was deemed erroneous. The judgment favored the Revenue, with no costs awarded. Case-Laws Income Tax Wed, 30 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24529