https://www.taxtmi.com/caselaws?id=426980 The Tribunal upheld the disallowance under section 43B of the Income Tax Act, 1961, due to the non-deposit of GST before the due date of filing the return of income under section 139(1). The Tribunal emphasized that the GST is part of sales and turnover and must be accounted for accordingly, rejecting the assessee's argument that bypassing the profit and loss account exempted them from disallowance. Citing precedent cases, the Tribunal held that non-payment of GST liability by the due date attracts disallowance under section 43B, regardless of accounting treatment. The appeal was dismissed, affirming the CIT(A)'s decision. en-us Thu, 25 Aug 2022 00:00:00 +0530 Tue, 30 Aug 2022 10:10:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426980 The Tribunal upheld the disallowance under section 43B of the Income Tax Act, 1961, due to the non-deposit of GST before the due date of filing the return of income under section 139(1). The Tribunal emphasized that the GST is part of sales and turnover and must be accounted for accordingly, rejecting the assessee's argument that bypassing the profit and loss account exempted them from disallowance. Citing precedent cases, the Tribunal held that non-payment of GST liability by the due date attracts disallowance under section 43B, regardless of accounting treatment. The appeal was dismissed, affirming the CIT(A)'s decision. Case-Laws Income Tax Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426980