https://www.taxtmi.com/caselaws?id=426884 The Tribunal allowed the Revenue's appeal, dismissing the Assessee's cross-objection. It directed the AO to disallow the outstanding Sales Tax/Works Contract Tax liability to the extent included in the statement showing deviations from the valuation method under Section 145A. The Tribunal upheld that Section 43B applies even if the liability isn't in the Profit & Loss Account, as long as the deduction was effectively claimed. en-us Tue, 19 Jul 2022 00:00:00 +0530 Sat, 27 Aug 2022 08:17:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426884 The Tribunal allowed the Revenue's appeal, dismissing the Assessee's cross-objection. It directed the AO to disallow the outstanding Sales Tax/Works Contract Tax liability to the extent included in the statement showing deviations from the valuation method under Section 145A. The Tribunal upheld that Section 43B applies even if the liability isn't in the Profit & Loss Account, as long as the deduction was effectively claimed. Case-Laws Income Tax Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426884