The Commissioner Of Income Tax v. M/S. Silver Plastochem Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.265 OF 2005 The Commissioner of Income Tax.Vs. ..Appellant. M/s. Silver Plastochem Pvt. Ltd. ..Respondent. Mr.S.M.Shah with Mr. Sandeep Wasnik and Mr.P.S.Sahadevan for the Appellant. CORAM : F.I. REBELLO &R.S. MOHITE, JJ.DATED : 24th March,2008. PC : 1. The Question of law-A as framed reads as under. "Whether the Custom duty Rs.11,13,896/- paid on the purchases made during the year and added pro rata at the end of year on closing stock can to be disallowed u/s. 43B? 2. The learned Tribunal in dismissing the appealpreferred by the revenue referred to the judgment ofthis court in the case of Bharat Petroleum Corporation Ltd. 252 ITR 43. In the light of that, the question of law-A as framed would not arise. 3. The question of law B reads as under. "Whether Central Sales Tax of Rs.62,138collected but remain unpaid can be disallowedu/s.43B?4. The Tribunal has answered this issue in favour ofthe assessee. However, as the tax incidence is lessthan Rs.4.00 lacs, the appeal on this point is not (R.S. MOHITE, J.) (F.I. REBELLO, J.)