1995 (4) TMI 18

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..... aw arising out of its order dated January 16, 1991, in respect of the assessment year 1987-88 under section 256(1) of the Income-tax Act, 1961. "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in directing that the amount of Rs. 20,680, being the unpaid sales tax liability as on June 30, 1986, i.e., the last day of the previous year, .....

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..... id sales tax liability as on June 30, 1986, i.e., the last day of the previous year, should not be disallowed under section 43B of the Income-tax Act, 1961, as the same amount was paid within the time allowed under the relevant sales tax law. It is also held that the amended provisions of section 43B, introduced with effect from April 1, 1988, were applicable retrospectively to the assessment year .....

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