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2015 (12) TMI 1024 - AT - Income TaxDisallowance u/s 43B on account of VAT collected but not paid - VAT was not claimed as expenditure in the profit and loss account - Held that:- In the facts of the present case, admittedly, the assessee had collected VAT amount of ₹ 22,68,716/- and had paid Rs.Rs.8,21,505/- against the said amount due during the accounting period, the balance amount of ₹ 14,47,211/- was not paid by the assessee before the close of year or before the date of audit report. However, under the provisions of section 43B of the Act, in case the said amount is paid by the assessee before the due date of filing the return of income as prescribed under section 139(1) of the Act, the assessee is entitled to the claim of deduction under section 43B of the Act. The necessary details in this regard are not available on record. Accordingly, we direct the Assessing Officer to verify whether the assessee has deposited the said amount before the due date of filing the return of income under section 139(1) of the Act and allow the claim in accordance with law.
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