1997 (11) TMI 95 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee regarding the deduction of sales tax liability amounting to Rs. 2,59,361 for the assessment year 1978-79. The Court held that the liability accrued during that specific year and could not have been anticipated earlier. The Commissioner of Income-tax (Appeals) and the Tribunal's decision to allow the deduction was deemed correct. The judges, Vinod Kumar Gupta and Dipak Prakash Kundu, both agreed with this decision.