{"id":150897,"date":"1995-04-05T00:00:00","date_gmt":"1995-04-04T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/commissioner-of-income-tax-vs-rathi-steel-traders-on-5-april-1995"},"modified":"2016-07-07T09:43:40","modified_gmt":"2016-07-07T04:13:40","slug":"commissioner-of-income-tax-vs-rathi-steel-traders-on-5-april-1995","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/commissioner-of-income-tax-vs-rathi-steel-traders-on-5-april-1995","title":{"rendered":"Commissioner Of Income-Tax vs Rathi Steel Traders on 5 April, 1995"},"content":{"rendered":"<div class=\"docsource_main\">Rajasthan High Court<\/div>\n<div class=\"doc_title\">Commissioner Of Income-Tax vs Rathi Steel Traders on 5 April, 1995<\/div>\n<div class=\"doc_citations\">Equivalent citations: 1996 218 ITR 112 Raj<\/div>\n<div class=\"doc_author\">Author: V Singhal<\/div>\n<div class=\"doc_bench\">Bench: Y Meena, V Singhal<\/div>\n<\/p>\n<pre><\/pre>\n<p>JUDGMENT<\/p>\n<p> V.K. Singhal, J. <\/p>\n<p> 1. The Income-tax Appellate Tribunal has referred the following two questions of law arising out of its order dated January 16, 1991, in respect of the assessment year 1987-88 under Section 256(1) of the Income-tax Act, 1961 :\n<\/p>\n<p> &#8220;1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in directing that the amount of Rs. 20,680, being the unpaid sales tax liability as on June 30, 1986, i.e., the last day of the previous year, should not be disallowed under Section 43B of the Income-tax Act, 1961, as the same amount was paid within the time allowed under the relevant sales tax law ?\n<\/p>\n<p> 2. Whether the amended provisions of Section 43B introduced with effect from April 1, 1988, are retrospective and are applicable to the assessment year under consideration, i.e., the assessment year 1987-88 ? &#8221;\n<\/p>\n<p> 2. The above controversy is concluded by the decision given by this court in the case of CIT v. Achaldas Dhanraj [1996] 217 ITR 799 (Raj) (D.B. Income-tax Reference No. 9 of 1992 decided on March 27, 1995). Accordingly, the reference is answered in favour of the assessee and against the Revenue and as such it is held that the Income-tax Appellate Tribunal was justified in directing that the amount of Rs. 20,680 being the unpaid sales tax liability as on June 30, 1986, i.e., the last day of the previous year, should not be disallowed under Section 43B of the Income-tax Act, 1961, as the same amount was paid within the time allowed under the relevant sales tax law. It is also held that the amended provisions of Section 43B, introduced with effect from April 1, 1988, were applicable retrospectively to the assessment year 1987-88. No order as to costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rajasthan High Court Commissioner Of Income-Tax vs Rathi Steel Traders on 5 April, 1995 Equivalent citations: 1996 218 ITR 112 Raj Author: V Singhal Bench: Y Meena, V Singhal JUDGMENT V.K. Singhal, J. 1. The Income-tax Appellate Tribunal has referred the following two questions of law arising out of its order dated January 16, 1991, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,29],"tags":[],"class_list":["post-150897","post","type-post","status-publish","format-standard","hentry","category-high-court","category-rajasthan-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commissioner Of Income-Tax vs Rathi Steel Traders on 5 April, 1995 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/commissioner-of-income-tax-vs-rathi-steel-traders-on-5-april-1995\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commissioner Of Income-Tax vs Rathi Steel Traders on 5 April, 1995 - Free Judgements of Supreme Court &amp; 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