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Commissioner Of Income-Tax vs Sri Jagannath Steel Corporation on 20 December, 1990 cites

Kedarnath Jute Manufacturing Co. Ltd. vs Commissioner Of Income-Tax (Central) on 24 August, 1966

28. Our attention has been drawn to the decision of the Supreme Court in Kedarnath Jute Manufacturing Co. Ltd. v. CIT . This decision has laid down that the obligation to pay sales tax arises as soon as the sale is effected. Here, we are concerned with the effective date of discharge of such liability in the light of Section 43B. The said decision has no relevance to the facts of this case. The questions on the facts and in the circumstances of this case as to whether the liability for sales tax accrued within the previous year and whether the assessee discharged such liability by actual payment within the period prescribed under the relevant statute were not gone into by the Income-tax Officer in this case. We are, therefore, of the view that the Tribunal was right in holding that, in a case like this, where the statutory liability is actually discharged after the expiry of the previous year in compliance with the relevant statute, the benefit of deduction cannot be denied to the assessee. The Tribunal, however, shall direct the Assessing Officer to dispose of the matter in the light of the observations contained in this judgment after ascertaining the factual position.
Calcutta High Court Cites 25 - Cited by 271 - Full Document
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