COMMISSIONER OF INCOME TAX Vs. VIJAYA ENTERPRISES

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has referred the following question of law arising out of its order dated August 3, 1995, pertaining to the assessment year 1986-87 :

(2.) THE assessee is an excise contractor. In the assessment for this year, the Assessing Officer disallowed under Section 43B, the "kist" amounts remaining outstanding as at the end of the relevant accounting year payable by the assessee to the Government- In appeal it was held that "kist" cannot be considered as tax or duty and, hence, the outstanding "kist" amount cannot be disallowed under Section 43B.

(3.) REFERENCE is answered in favour of the assessee and against the Revenue.