https://www.taxtmi.com/caselaws?id=68979 Advance tax instalments payable after the first day of the computation period were treated as deductible liabilities when computing capital employed under section 80J(1A)(III). The analysis applied the statutory deeming rule that advance tax becomes due on the payable date and followed the Supreme Court view that an instalment payable after the valuation date can still be a debt owed on that date. On that basis, later-due instalments were not excluded merely because their due dates fell after the computation date, and the Revenue's position was upheld. en-us Wed, 07 Mar 1984 00:00:00 +0530 Mon, 04 Apr 2011 12:26:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68979 Advance tax instalments payable after the first day of the computation period were treated as deductible liabilities when computing capital employed under section 80J(1A)(III). The analysis applied the statutory deeming rule that advance tax becomes due on the payable date and followed the Supreme Court view that an instalment payable after the valuation date can still be a debt owed on that date. On that basis, later-due instalments were not excluded merely because their due dates fell after the computation date, and the Revenue's position was upheld. Case-Laws Income Tax Wed, 07 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68979