https://www.taxtmi.com/caselaws?id=66510 A provision for central excise duty on corrugated fibre containers was deductible as a business expense under the mercantile system because the liability had accrued in the relevant accounting years. The dispute over enforceability did not make the liability contingent, and later High Court or Supreme Court developments could not retrospectively convert an accrued liability into a non-deductible one. The deduction was therefore upheld for the relevant assessment years. en-us Fri, 29 Jul 1988 00:00:00 +0530 Sat, 26 Feb 2011 12:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66510 A provision for central excise duty on corrugated fibre containers was deductible as a business expense under the mercantile system because the liability had accrued in the relevant accounting years. The dispute over enforceability did not make the liability contingent, and later High Court or Supreme Court developments could not retrospectively convert an accrued liability into a non-deductible one. The deduction was therefore upheld for the relevant assessment years. Case-Laws Income Tax Fri, 29 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66510