https://www.taxtmi.com/caselaws?id=463378 Year-end deposit in the Central Excise Personal Ledger Account was treated as satisfying the excise liability and was allowed, while unutilized MODVAT credit standing at year-end was held disallowable. Sales tax recoverable was disallowed under Section 43B of the Income-tax Act because the claim fell within that provision's restrictive scheme. Software expenditure was held to be revenue in character and deductible. The appeal thus succeeded on the excise deposit and software issues, and failed on the MODVAT credit and sales tax disallowance issues. en-us Thu, 07 Dec 2017 00:00:00 +0530 Thu, 28 Aug 2025 20:47:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463378 Year-end deposit in the Central Excise Personal Ledger Account was treated as satisfying the excise liability and was allowed, while unutilized MODVAT credit standing at year-end was held disallowable. Sales tax recoverable was disallowed under Section 43B of the Income-tax Act because the claim fell within that provision's restrictive scheme. Software expenditure was held to be revenue in character and deductible. The appeal thus succeeded on the excise deposit and software issues, and failed on the MODVAT credit and sales tax disallowance issues. Case-Laws Income Tax Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463378