VAT Liability Not Disallowable u/s 43B If Not Claimed As Deduction In Profit & Loss Account: ITAT [Read Order]
The Tribunal observed that disallowance u/s 43B arises only when the liability is claimed as a deduction, and if no such claim has been made, the question of disallowance does not arise
By Adwaid M S - On April 23, 2025 8:39 pm - 2 mins read
In a significant ruling, the Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has held that unpaid VAT liability cannot be disallowed under Section 43B of the Income Tax Act, 1961 if it has not been claimed as a deduction in the profit and loss account. The decision was rendered in the appeal filed…
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