2003 (5) TMI 53

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....tted on the following question of law: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in upholding the Commissioner of Income-tax (Appeals) decision ignoring the fact that the Central sales tax and State sales tax collected by the assessee in the course of its business form part of the trading or business receipt?" In the following facts and circu....

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....ncome-tax (Appeals), Guwahati. The Commissioner (Appeals) has upheld the contention raised by the assessee and held that the question of disallowing the amount in question does not arise as the assessee has not claimed any deduction under section 43B. Aggrieved by the said order, the Revenue filed a second appeal before the Income-tax Appellate Tribunal. The Tribunal was of the view that the issue....