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2018 (1) TMI 518

Head Note:
Revision u/s 263 - disallowability of expenditure on account of sales tax - Compound Levy Scheme applicability - Held that:- The special leave petition is dismissed. HC order confirmed. [2017 (8) TMI 372 - PUNJAB AND HARYANA HIGH COURT]

As held by HC once the assessee had shown that the sales appearing in the balance-sheet were inclusive of sales tax, there was no occasion to disallow the claim made by the assessee relating to payment of sales tax, on the basis of Compound Levy Scheme. The Revenue was unable to produce any material on record to substantiate that the assessee had excluded the amount of sales tax from the sales. Once that was so, it could not be said that the order sought to be revised was either erroneous or prejudicial to the interests of the Revenue. Thus, both the limbs of section 263 of the Act were not satisfied. - Decided in favour of assessee


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