High Court Confirms Disallowance of Security Transaction Tax Deduction u/s 43B Due to Non-Compliance by Petitioner.

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....Disallowance u/s 43B - Deduction of Security Transaction Tax (STT) against the transaction of trading - Undisputedly, petitioner had not deposited the amount deducted as STT with the authorities, and it is not his case that the same stood paid back/returned to the person from whom it stood deducted. It is the admitted case of the petitioner that since the petitioner was adopting the mercantile system of accounting; he was not supposed to take any action - Additions confirmed - HC....