2003 (5) TMI 53

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....P.P. NAOLEKAR C.J.-This appeal was admitted 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 re....

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....iled an appeal before the Commissioner of Income-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. ....

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....e present case also whether the Central sales tax and the State sales tax collected would form part of the assessee's income being the trading receipt was not the question considered by any of the authorities. The question which was considered by the court below is whether section 43B is attracted in the facts of the present case and thus it is clear that neither of the authorities has considered ....