https://www.taxtmi.com/caselaws?id=61753 The Tribunal dismissed the department's appeal and affirmed the Commissioner (Appeals)'s decision to allow the assessee's claim for a provision of Rs. 3,53,398 for purchase tax as a deduction for the assessment year 1978-79. The Tribunal held that the liability for payment of purchase tax accrued during the relevant accounting period, even if payment was due in the future, and subsequent waivers of the tax did not affect the admissibility of the deduction. The judgment highlights the importance of recognizing accrued liabilities during the relevant accounting period for determining the admissibility of deductions. en-us Mon, 27 Feb 1984 00:00:00 +0530 Fri, 14 Jan 2011 16:39:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61753 The Tribunal dismissed the department's appeal and affirmed the Commissioner (Appeals)'s decision to allow the assessee's claim for a provision of Rs. 3,53,398 for purchase tax as a deduction for the assessment year 1978-79. The Tribunal held that the liability for payment of purchase tax accrued during the relevant accounting period, even if payment was due in the future, and subsequent waivers of the tax did not affect the admissibility of the deduction. The judgment highlights the importance of recognizing accrued liabilities during the relevant accounting period for determining the admissibility of deductions. Case-Laws Income Tax Mon, 27 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61753