TMI Blog1992 (4) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... gistered firm, derives income from the purchase and sale of tractors, motor cycles and the or accessories. In the assessment completed on 24th March, 1988 under s. 143(3), the ITO did not include an amount of Rs. 94,476 under which the assessee had realised Rajasthan Sales-tax in the last quarter of the relevant accounting period and which was not deposited within the accounting period which ended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Coch) (iii) Kapoor Motor Engineering (P) Ltd. vs. ITO (1987) 63 CTR (Trib) 1 It was also pointed out that the amendment to s. 43B by the Taxation Laws (Amendment) Act, 1987 w.e.f. 1st April, 1988 being clarificatory in nature, was operative for the asst. yr. 1985-86 in question. However, the learned CIT took the view that the said amendment was not operative for the assessment year in question ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Representative, supported the impugned order on the basis of the following decisions of Delhi High Court: (i) Sanghi Motors vs. CIT (1991) 91 CTR (Del) 15 : (1991) 187 ITR 703 (Del) (ii) Escorts Ltd. vs. Union of India Ors. (1991) 93 CTR (Del) 169 : (1991) 189 ITR 81 (Del) Sri Choudhary also pointed out that in the challan the amount was shown as paid by way of advance tax. 4. In reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccording to the other 5 High Courts, the amendment is merely clarificatory, declaratory or explanatory and, therefore, retrospective. There is no decision of the jurisdictional High Court of Rajasthan one way or the other yet. Therefore, in such a situation where two views exist, on the basis of the principle laid down by the Supreme Court in the case of Vegetable Products Ltd. the view favourable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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