1999 (3) TMI 17

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..... ered by the specific scheme of the Gujarat Government whereby the deferred payment scheme was converted into interest-free loan particularly when the provisions of s. 43B are retrospective in operation" is a question of law - question quoted above shall be referred by the Tribunal to the HC
S. P. BHARUCHA AND R. C. LAHOTI JJ. For the Appellant : T. L. V. Iyer, Senior Advocate (Rajiv Nanda, Adv .....

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..... 1987. We have been shown the said circular and it is clear that its provisions would apply only if a State Government had amended its Sales Tax Act to provide that the sales tax that was deferred under an incentive scheme framed by it would be treated as actually paid, so as to meet the requirements of section 43B of the Income-tax Act, 1961. Notice does not appear to have been taken of the Guja .....

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