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TMI Blog1996 (6) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... to tax in the assessment year under consideration ? " It would be at once seen that except for the situation that in Income-tax Reference No. 141 of 1987 the amount is Rs. 51,298 and in Income-tax Reference No. 142 of 1987 the amount is Rs. 18,086, there is no difference, The question is as to whether the amounts in question could be brought to tax in the assessment year (1984-85) under consideration, by application of the provisions of section 43B of the Income-tax Act, 1961, as amended up to date, specially with regard to the assessment year in question. There is no doubt that the position of law as it stood at the time when the authorities considered the question was controlled by the provisions of section 43B of the Act as it stood t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to reproduce the said Explanation 2 which is as follows : " For the purposes of clause (a) as in force at all material times, ' any sum payable ' means a sum for which the assessee incurred liability in the previous year even though such sum might not have been payable within that year under the relevant law. " It would thus be clear that even if the concerned amount might not have been payable within the year in question under the relevant taxation law, it would have to be understood as " any sum payable " in the context. If this is the position that emerges as a result of the deeming provision arising out of the Finance Act, 1989, with regard to Explanation 2 to section 43B of the Act, the obvious result would be that the provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble " to be the amount payable in a particular year also requiring it to be statutorily payable under the relevant statute in the same year also creating a need of a clarificatory amendment to mean a liability incurred by the taxpayer, may be during the previous year irrespective of the date by which such sum is statutorily payable. On the basis of the situation that courts of co-ordinate jurisdiction bind each other, the position of law becomes more clear apart from the contents of the statutory provisions referred to above. However, we do not feel that any remand is necessary when not only has this court already pronounced thereupon, but the statutory provisions referred to hereinbefore by us also settle the question with regard to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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