https://www.taxtmi.com/caselaws?id=58329 The Tribunal dismissed the Revenue's appeal, upholding the CIT (A) decision that section 43B did not apply to the outstanding liability for custom duty in the agency business context. The Tribunal emphasized the assessee's role as a mere agent without a vested interest in the imported goods, highlighting that the custom duty was payable only upon goods clearance and not representing a liability incurred but not discharged. Ultimately, the Tribunal affirmed that the provisions of section 43B were not applicable in this scenario, ruling in favor of the assessee. en-us Mon, 31 Jan 1994 00:00:00 +0530 Sat, 18 Dec 2010 14:37:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58329 The Tribunal dismissed the Revenue's appeal, upholding the CIT (A) decision that section 43B did not apply to the outstanding liability for custom duty in the agency business context. The Tribunal emphasized the assessee's role as a mere agent without a vested interest in the imported goods, highlighting that the custom duty was payable only upon goods clearance and not representing a liability incurred but not discharged. Ultimately, the Tribunal affirmed that the provisions of section 43B were not applicable in this scenario, ruling in favor of the assessee. Case-Laws Income Tax Mon, 31 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58329