https://www.taxtmi.com/caselaws?id=67560 The Appellate Tribunal upheld the assessee's contention, allowing the deduction of Rs. 94,926 to the Director General of Supplies and Disposal. The Tribunal emphasized that once the liability was quantified, it became allowable for deduction, even if the matter was in arbitration. Legal precedents supported the decision, highlighting the importance of quantification and certainty of payment for deductions. The Tribunal also noted that recoveries of previously allowed deductions are taxable income. Consequently, the appeal was accepted, the disallowance was deleted, and the deduction was permitted. en-us Tue, 30 Jul 1985 00:00:00 +0530 Fri, 11 Mar 2011 12:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67560 The Appellate Tribunal upheld the assessee's contention, allowing the deduction of Rs. 94,926 to the Director General of Supplies and Disposal. The Tribunal emphasized that once the liability was quantified, it became allowable for deduction, even if the matter was in arbitration. Legal precedents supported the decision, highlighting the importance of quantification and certainty of payment for deductions. The Tribunal also noted that recoveries of previously allowed deductions are taxable income. Consequently, the appeal was accepted, the disallowance was deleted, and the deduction was permitted. Case-Laws Income Tax Tue, 30 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67560