https://www.taxtmi.com/caselaws?id=66522 Deductibility depended on whether the liability had crystallised in the relevant year: excess sugar price collections for earlier seasons were not deductible because no enforceable liability existed then, and the related interest claim also failed. By contrast, deductions were allowed for the 1976 and 1977 season collections and interest, the reversed gratuity provision, the extra shift allowance, the conditional gratuity-fund contribution subject to recognition, and the employee-school donation as business expenditure. Interest on short-term deposits with a co-operative central bank was treated as business income and not eligible for deduction under section 80P(2)(d). en-us Wed, 20 Sep 1989 00:00:00 +0530 Mon, 13 Jun 2011 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66522 Deductibility depended on whether the liability had crystallised in the relevant year: excess sugar price collections for earlier seasons were not deductible because no enforceable liability existed then, and the related interest claim also failed. By contrast, deductions were allowed for the 1976 and 1977 season collections and interest, the reversed gratuity provision, the extra shift allowance, the conditional gratuity-fund contribution subject to recognition, and the employee-school donation as business expenditure. Interest on short-term deposits with a co-operative central bank was treated as business income and not eligible for deduction under section 80P(2)(d). Case-Laws Income Tax Wed, 20 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66522