Section 43b of it act

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Sakshi Goel (Querist)
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27 December 2013 Dear expert

Xyz ltd receives service tax on the services rendered. Though it does not transfer the amount to Profit n Loss a/c and maintains a separate account for the same namely service tax payable a/c. At the end company was having service tax payable to govt. Whether the service tax collected but not paid to govt can be disallowed u/s 43B?

thanks n regards

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 December 2013 no. cannot be disallowed.

Refer: Noble & Hewitt (I) Pvt. Ltd. 305 ITR 324 (Del.),

ACIT Vs. Real Image Technology P. Ltd. [ 306 ITR 106]

ACIT, Cir. 3(1), Vs. M/s Biotech Consortium India Ltd., New Delhi. 5th Floor Anurat Bhawan, 210, Deen Dayal Upadhyaya Marg, ITA No. 2841/Del/12 A.Yr. 2009-10

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