1 IN HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) Original Side Present : Hon ble Justice Girish Chandra Gupta And Hon ble Justice Arindam Sinha 6th May, 2015 ITAT 71 of 2011 C.I.T, Kolkata - IV Vs. Graphite India Ltd. Md. Nizamuddin, Advocate for appellant Mr. J.P. Khaitan, Senior Advocate with Mr. Somak Basu, Advocate for respondent Court :- subject matter of challenge in this appeal is judgment and order dated 31st July, 2002 pertaining to Assessment Year 1995-96. assessee had preferred appeal before learned Tribunal challenging order under Section 263. learned Tribunal partly allowed appeal by holding that in respect of Karnataka Sales Tax (KST), assessee had duly deposited KST collected from purchaser with State Government and hence, that portion of KST should not be treated as sale consideration of assessee as held in case of Chowringhee Sales Bureau Pvt. Ltd. (87 ITR 542). Hon ble Supreme Court observed that amount of sales-tax received by appellant should be held to form part of trading receipts as business receipts. appellant is entitled to claim deduction of amount as and when it pays to statutory authorities. 2 correctness of aforesaid findings recorded by learned Tribunal was not even assailed before us by Mr.Nizamuddin . There is as such nothing which requires to be considered in this appeal which is accordingly dismissed. (Girish Chandra Gupta, .J.) (Arindam Sinha, J.) ANC. Commissioner of Income-tax , Kolkata -IV v. Graphite India Ltd