https://www.taxtmi.com/caselaws?id=65319 An arbitral award challenged by the assessee did not create an accrued deductible liability merely because the arbitrator quantified it. Where judicial confirmation was required to make the award enforceable, the liability crystallised only when the award was made the rule of the Court; the claimed deduction for the relevant assessment year was therefore disallowed. Interest under section 234B was properly chargeable because its deletion resulted from a clerical error in the assessee's copy of the assessment order, while references to sections 234A and 234C were erroneous. Prior-period expense relief remained undisturbed, resulting in partial allowance of the Revenue's appeal. en-us Fri, 25 Nov 2005 00:00:00 +0530 Mon, 14 Feb 2011 18:43:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65319 An arbitral award challenged by the assessee did not create an accrued deductible liability merely because the arbitrator quantified it. Where judicial confirmation was required to make the award enforceable, the liability crystallised only when the award was made the rule of the Court; the claimed deduction for the relevant assessment year was therefore disallowed. Interest under section 234B was properly chargeable because its deletion resulted from a clerical error in the assessee's copy of the assessment order, while references to sections 234A and 234C were erroneous. Prior-period expense relief remained undisturbed, resulting in partial allowance of the Revenue's appeal. Case-Laws Income Tax Fri, 25 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65319