9911796707
TMI Blog1990 (1) TMI 130X X X X Extracts X X X X X X X X Extracts X X X X ..... s of 43B and upheld by the first appellate authority. 2. The appellant in this case is an individual trading in general merchandise on whole-sale basis. The assessment year involved in 1987-88. The ITO in the course of the assessment proceedings, found that a sum of Rs. 30,112 ws reflected in the balance-sheet as "sales-tax payable". According to the ITO as the amount in question remained unpaid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted at the end of the accounting year since there was some time available under the law to discharge the said liability. It was further stated that the amount in question had been deposited later on and no addition was called for. It was also argued that the amount in question was not claimed as a deduction in the profit and loss account and there was no question of invoking the provisions of s. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1989) 31 ITD 305 and which according to him had considered the provisions of the amendments effected upto date. It was the submissions thereafter that the facts of the present case being identical to those as considered by the Tribunal in the case of ITO vs. K.S. Lokhandwala the necessary relief be allowed by deleting the addition made by the ITO. The learned counsel made a statement at the bar t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visions of s. 43B including the amendments made from time to time but have also discussed the two decisions of the Hon'ble Supreme Court, supra, on which reliance has been placed by the authorities below in making the additions. The facts of the present case being identical to those as considered by the Tribunal in the case of ITO vs. K.S. Lokhandwala, supra, we have no hesitation in applying the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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