https://www.taxtmi.com/caselaws?id=60216 The Tribunal dismissed both the assessee's and the Department's appeals, upholding the CIT(A)'s decisions. The sales tax liability claim was disallowed, the excise duty liability claim was partially allowed, and the sur-tax liability claim was rejected. The Tribunal emphasized that liabilities under the mercantile system of accounting relate back to the year of sale, not the year of the demand notice, following established precedents like Kedarnath Jute Mfg. Co. Ltd. and Molins of India Ltd. en-us Wed, 02 Apr 1986 00:00:00 +0530 Tue, 04 Jan 2011 12:47:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60216 The Tribunal dismissed both the assessee's and the Department's appeals, upholding the CIT(A)'s decisions. The sales tax liability claim was disallowed, the excise duty liability claim was partially allowed, and the sur-tax liability claim was rejected. The Tribunal emphasized that liabilities under the mercantile system of accounting relate back to the year of sale, not the year of the demand notice, following established precedents like Kedarnath Jute Mfg. Co. Ltd. and Molins of India Ltd. Case-Laws Income Tax Wed, 02 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60216