1993 (6) TMI 47

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....mpugned amount cannot be brought to tax in the hands of the assessee for the assessment year under consideration ?" The respondent/firm is an assessee to income-tax. We are concerned with the assessment year 1984-85, the accounting period being 1158 M.E. The Income-tax Officer noticed that, out of the sales tax collections made during the accounting year, a sum of Rs. 38,061 was not paid in that year. He invoked the provisions of section 43B of the Income-tax Act and added the same to the income of the assessee. In appeal, the Commissioner of Income-tax (Appeals) held that section 43B of the Act is inapplicable. He deleted the disallowance. The matter was taken up in appeal before the Income-tax Appellate Tribunal by the Revenue as I. T.....

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..... A. No. 31/(Coch) of 1986 dated July 31, 1986. In rendering the common judgment in Income-tax References Nos. 211 to 213 of 1987 (CIT v. Govindaraja Reddiar [1991] 187 ITR 417), by judgment dated September 17, 1990, a Bench of this court held thus (at page 420) : "In these cases, when the Appellate Tribunal rendered its decision in the appeals on July 31, 1986, it construed the provisions of section 43B of the Act as it stood then, unhampered by the amendments effected in the statute by the Direct Tax Laws (Amendment) Act, 1987, the Finance Act, 1988, and the Finance Act, 1989. The amendments so introduced later in section 43B of the Act have made great inroads. In particular, the Finance Act, 1989, has inserted Explanation 2 with effec....