https://www.taxtmi.com/caselaws?id=60764 The Tribunal reversed the CIT(A)'s decision, ruling that sales-tax collected but not paid is taxable under Section 43B of the IT Act. The Tribunal held that the unpaid sales-tax, treated as a trading receipt, must be taxed, rejecting the retrospective application of the proviso to Section 43B for the relevant assessment years. The Revenue's appeals were allowed based on the non obstante clause in Section 43B, emphasizing the mandatory taxation of such amounts. en-us Fri, 23 Aug 1991 00:00:00 +0530 Fri, 07 Jan 2011 18:59:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60764 The Tribunal reversed the CIT(A)'s decision, ruling that sales-tax collected but not paid is taxable under Section 43B of the IT Act. The Tribunal held that the unpaid sales-tax, treated as a trading receipt, must be taxed, rejecting the retrospective application of the proviso to Section 43B for the relevant assessment years. The Revenue's appeals were allowed based on the non obstante clause in Section 43B, emphasizing the mandatory taxation of such amounts. Case-Laws Income Tax Fri, 23 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60764