9911796707
TMI Blog2003 (5) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... ourse of its business form part of the trading or business receipt?" - we are satisfied that section 43B of the Income-tax Act is not attracted at all when the assessee has not claimed any deduction of the amounts collected by it as the Central sales tax and the State sales tax. - Income-tax Appeal No. 13 of 2001 - - - Dated:- 22-5-2003 - Judge(s) : P. P. NAOLEKAR., I. A. ANSARI. JUDGMENT T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mounts of the Central sales tax and the State sales tax collected by him under section 43B of the Income-tax Act, 1961. The Assessing Officer by his order dated October 30, 1991, has directed addition of the amount of Rs. 1,11,68,436 holding that the assessee's claim that section 43B is not applicable is not accepted and the amount collected by the assessee shall be treated as a trading receipt. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the apex court has been produced before us by counsel for the assessee. The special leave appeal was dismissed by the Supreme Court on the ground that the High Court has considered the question of applicability of section 43B, the High Court has not expressed any opinion on the question whether the said amounts should be included in the income of the assessee or not and it has left that question ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
