COMMISSIONER OF INCOME TAX Vs. SONI TRADERS

JUDGEMENT

(1.) THE Tribunal, Jaipur Bench, Jaipur, for the asst. yr. 1987-88, referred the following question of law under S. 256(1) of the IT Act for the opinion of the High Court :

(2.) THE material facts, on the basis of which the above question of law is to be decided, is similar to those in DB IT Ref. No. 9 of 1992 CIT vs. Achaldass Dhanraj decided on 27th March, 1995 [reported at (1995) 128 CTR (Raj) 325]. The question referred for the opinion of the High Court is identical with the question which was referred in DB IT Ref. No. 9 of 1992. While answering the reference in DB IT Ref. No. 9 of 1992 CIT vs. Achaldass Dhanraj (supra), this Court held as under :

(3.) CONSEQUENTLY , the reference is answered in favour of the assessee and against the Revenue and it is held that the unpaid sales-tax liability, if paid within the time allowed under the Sales-tax Act should not be disallowed by virtue of S. 43B and the Tribunal was justified in cancelling the order passed under S. 263 of the IT Act, 1961.