- (1.) ON an application filed under S. 256(1) of the IT Act, 1961, the Tribunal has referred the following questions for the opinion of this Court : Asst. yr. 1984-85 "Whether on the facts and in the circumstances of the case, the Tribunal erred in law in holding that no disallowance was to be made under S. 43B of the IT Act, 1961, in respect of outstanding sales-tax liability of Rs. 34,576 shown in the balance-sheet at the end of the relevant accounting year as the said liability had been discharged by the assessee within the time prescribed under the relevant sales-tax law ?" Asst. yr. 1985-86 "Whether, on the facts and in the circumstances of the case, the Tribunal erred in law in holding that no disallowance was to be made under S. 43B of the IT Act, 1961, in respect of outstanding sales-tax liability of Rs. 2,210 shown in the balance-sheet at the end of the relevant accounting year as the said liability had been discharged by the assessee within the time prescribed under the relevant sales-tax law ?" Asst. yr. 1986-87 "Whether, on the facts and in the circumstances of the case, the Tribunal erred in law in holding that no disallowance was to be made under S. 43B of the IT Act, 1961, in respect of outstanding sales-tax liability of Rs. 9,267 shown in the balance-sheet at the end of the relevant accounting year as the said liability had been discharged by the assessee within the time prescribed under the relevant sales-tax law ?"
(2.) AT the outset, learned counsel for the assessee submits that now the issue is concluded by their lordships in the case of Allied Motors (P) Ltd. vs. CIT (1997) 139 CTR (SC) 364 : (1997) 224 ITR 677 (SC) : TC S19.2151. Learned counsel for the Revenue has not controverted this fact. Following the view taken by their Lordships in the case of Allied Motors (P) Ltd. vs. CIT (supra), we answer all these questions in negative that the Tribunal has not erred in allowing the deduction of the amount of sales-tax, which has been paid within the time prescribed under the relevant sales- tax law i.e., in favour of the assessee and against the Revenue. Reference so made stands disposed of accordingly.;