Belated Service Tax payment allowable on actual payment basis

Wyzmindz Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) Conclusion: Service tax collected by assessee and not paid to the Government exchequer before the due date of filing of return was to be disallowed under section 43B and the same should be allowed on actual payment in the assessment year in which it was actually paid. Held: Assessee was a resident company following mercantile method of accounting, carrying on the business of IT enabled services. Assessee had filed its return of income declaring Income at Rs.Nil, after setting of brought forward losses and paid applicable taxes u/s 115JB of t...