https://www.taxtmi.com/caselaws?id=66634 The Tribunal allowed the departmental appeal, ruling that the additional sales-tax liability was contingent and not demanded during the relevant accounting year, thus not eligible for deduction. The judgment clarified the difference between contractual and statutory liabilities and stressed the necessity of actual demand to recognize a liability in the mercantile accounting system. en-us Sun, 30 Aug 1987 00:00:00 +0530 Sat, 05 Mar 2011 13:08:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66634 The Tribunal allowed the departmental appeal, ruling that the additional sales-tax liability was contingent and not demanded during the relevant accounting year, thus not eligible for deduction. The judgment clarified the difference between contractual and statutory liabilities and stressed the necessity of actual demand to recognize a liability in the mercantile accounting system. Case-Laws Income Tax Sun, 30 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66634