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COMMISSIONER OF INCOME-TAX versus GUJARAT POLYCRETE (PVT.) LTD.


The CBDT has issued a circular on the deduction of only the original payment for business expenses, saying that if any state government will actually deal with the deferred sales tax under the incentive scheme, it will provide a sales tax. The Act has been amended and it cannot be ascertained whether there is any such amendment to the Gujarat Tribunal whether the payment scheme received under the Gujarat Government's specific scheme has been converted into interest-free loan, If instructing the Assessing Officer to allow an assessee's claim in connection with an unpaid sales tax is justified If the change in deferred interest-free loan payment scheme under the Indian Income Tax Question Q Act, 1961, section 43 B and 256 gayyrt Sales Tax Act, 1969 C D T Circular No. 496, dated 25 9 1987

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