2008 (1) TMI 975

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....R. JUSTICE A.S. BOPANNA FOR THE APPELLANT: SRI M V SESHACHALA, ADV. FOR THE RESPONDENT: SRI ASHOK A KULKARNI, ADV. JUDGEMENT This appeal is by the revenue challenging the order passed by the Income Tax Appellate Tribunal, Bangalore Bench in ITA No. 616/BANG/1999 dated 26.3.2003 raising the following substantial questions of law: i) Whether the Tribunal was correct in holding that a ....

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....e under the expenditure head which was disallowed by the assessing Officer on the ground that the aforesaid amount does not amount to payment of tax in order to claim deduction by applying the principle of Section 43B of the Income Tax Act and further held that it has to be treated as an advance sale tax paid by the assessee. Therefore, the expenditure claimed by the assessee to that extent was di....

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....d paid a sum of Rs. 3,82,403/- as excess tax. When once the tax is paid, the same has to be accounted under the expenditure head. If any excess tax is paid, the assessee is entitled to claim refund of the claim. On getting the amount refunded by the Government, the same has to be reflected in the return of income as and when the same is received by it. Merely because by oversight the excess tax is....