https://www.taxtmi.com/caselaws?id=64704 Clause 5A of the Sugarcane (Control) Order, 1966 was treated as creating a statutory liability to pay additional cane price once the grower supplied the requisite cane, with the Second Schedule governing only later quantification. The phrase "if found due" was read as referring to ascertainment of the amount, not to postponement of the liability itself. On the mercantile system, that accrued liability was deductible in the accounting year even though exact computation was completed later. The additional cane price was therefore held to be an accrued, not contingent, liability, and the deduction was allowable. en-us Fri, 29 Jul 1988 00:00:00 +0530 Wed, 09 Feb 2011 13:29:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64704 Clause 5A of the Sugarcane (Control) Order, 1966 was treated as creating a statutory liability to pay additional cane price once the grower supplied the requisite cane, with the Second Schedule governing only later quantification. The phrase "if found due" was read as referring to ascertainment of the amount, not to postponement of the liability itself. On the mercantile system, that accrued liability was deductible in the accounting year even though exact computation was completed later. The additional cane price was therefore held to be an accrued, not contingent, liability, and the deduction was allowable. Case-Laws Income Tax Fri, 29 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64704