https://www.taxtmi.com/caselaws?id=65883 A statutory or status-based electricity tariff liability is deductible on accrual when it becomes real and enforceable, so the provision for the stayed portion of the 1989 tariff hike was allowed under the mercantile method and section 43B did not bar deduction. By contrast, the stayed portion of the 1987 tariff hike had not crystallised within the relevant previous year, so deduction for prior-period expenditure and current-year liability was denied. Interest on business consignment transactions was allowed as ordinary business expenditure, but the debit balance write-off was disallowed because the liability was not shown to have accrued in the year. A computer used only for office and accounting work was held not to qualify as plant for investment allowance. en-us Thu, 17 Nov 1994 00:00:00 +0530 Sat, 19 Feb 2011 10:40:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65883 A statutory or status-based electricity tariff liability is deductible on accrual when it becomes real and enforceable, so the provision for the stayed portion of the 1989 tariff hike was allowed under the mercantile method and section 43B did not bar deduction. By contrast, the stayed portion of the 1987 tariff hike had not crystallised within the relevant previous year, so deduction for prior-period expenditure and current-year liability was denied. Interest on business consignment transactions was allowed as ordinary business expenditure, but the debit balance write-off was disallowed because the liability was not shown to have accrued in the year. A computer used only for office and accounting work was held not to qualify as plant for investment allowance. Case-Laws Income Tax Thu, 17 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65883