1990 (1) TMI 130

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....made by the ITO under the provisions of 43B and upheld by the first appellate authority. 2. The appellant in this case is an individual trading in general merchandise on whole-sale basis. The assessment year involved in 1987-88. The ITO in the course of the assessment proceedings, found that a sum of Rs. 30,112 ws reflected in the balance-sheet as "sales-tax payable". According to the ITO as th....

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....e appellant to pay the sales-tax collected at the end of the accounting year since there was some time available under the law to discharge the said liability. It was further stated that the amount in question had been deposited later on and no addition was called for. It was also argued that the amount in question was not claimed as a deduction in the profit and loss account and there was no ques....

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....okhandwala (1989) 80 CTR (Trib) (Ahd) 90 : (1989) 31 ITD 305 and which according to him had considered the provisions of the amendments effected upto date. It was the submissions thereafter that the facts of the present case being identical to those as considered by the Tribunal in the case of ITO vs. K.S. Lokhandwala the necessary relief be allowed by deleting the addition made by the ITO. The le....