2003 (3) TMI 45

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..... R. MEENA J. - This appeal is directed against the order dated June 6, 2000. The following questions are raised for our consideration in appeal: "(i) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct in law in holding that the liability for payment of collected sales tax to the Government having been deferred under the said scheme, is all....

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....fund and surpluses" amounting to Rs. 2,34,845 for the assessment year 1989-90. During the course of proceedings, the Assessing Officer found that the amounts were related to the Sales Tax Deferment Scheme for Industries, 1987 of the Government of Rajasthan. Under the scheme, the assessee had collected the sales tax but not paid to the State Government within the accounting period or before fili....

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....ts that for the purpose of benefit of the Central Board of Direct Taxes Circular No. 496, dated September 25, 1987 unless the Government made an amendment in the Sales Tax Act to the effect that the sales tax collected under the sales tax deferment scheme shall be treated as actually paid for the purpose of section 43B, the addition under section 43B should be made. Admittedly, no such amendment h....