https://www.taxtmi.com/caselaws?id=307088 The court ruled against the revenue and in favor of the assessee, holding that the unpaid VAT should not be disallowed as a deduction since it was not claimed in the Books of Accounts. The court emphasized the importance of the accounting system chosen by the assessee and concluded that Section 43-B of the Income Tax Act did not need to be relied upon for claiming deductions due to the favorable accounting system adopted. en-us Tue, 25 Apr 2017 00:00:00 +0530 Thu, 16 Mar 2023 21:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307088 The court ruled against the revenue and in favor of the assessee, holding that the unpaid VAT should not be disallowed as a deduction since it was not claimed in the Books of Accounts. The court emphasized the importance of the accounting system chosen by the assessee and concluded that Section 43-B of the Income Tax Act did not need to be relied upon for claiming deductions due to the favorable accounting system adopted. Case-Laws Income Tax Tue, 25 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307088