https://www.taxtmi.com/caselaws?id=57723 The Tribunal upheld the decision of the Appellate Authority, ruling that the sales tax collected by the assessee was not 'payable' during the relevant year, thus making Section 43B of the Income Tax Act inapplicable. The analysis considered the timing of payment and accrual of debt, distinguishing it from previous Supreme Court judgments. The Tribunal emphasized that without accrual of income as per the accounting method, the adjustment of liability under Section 43B does not apply. The appeal by the Revenue was dismissed, affirming the original decision. en-us Mon, 25 Aug 1986 00:00:00 +0530 Mon, 13 Dec 2010 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57723 The Tribunal upheld the decision of the Appellate Authority, ruling that the sales tax collected by the assessee was not 'payable' during the relevant year, thus making Section 43B of the Income Tax Act inapplicable. The analysis considered the timing of payment and accrual of debt, distinguishing it from previous Supreme Court judgments. The Tribunal emphasized that without accrual of income as per the accounting method, the adjustment of liability under Section 43B does not apply. The appeal by the Revenue was dismissed, affirming the original decision. Case-Laws Income Tax Mon, 25 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57723