https://www.taxtmi.com/caselaws?id=69567 The Tribunal held that the penalty for delayed delivery is a liability in praesenti as the assessee did not dispute its liability. The liability accrues when the delay happens, and any waiver is contingent on customer acceptance. The Tribunal directed the Assessing Officer to allow the revenue deduction claim for the penalty under delayed delivery clauses. Regarding the taxability of cash compensatory support, the Tribunal upheld its taxability, noting changes in relevant tax laws. The Tribunal partly allowed the assessee's appeals. en-us Fri, 31 Jul 1992 00:00:00 +0530 Thu, 07 Apr 2011 16:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69567 The Tribunal held that the penalty for delayed delivery is a liability in praesenti as the assessee did not dispute its liability. The liability accrues when the delay happens, and any waiver is contingent on customer acceptance. The Tribunal directed the Assessing Officer to allow the revenue deduction claim for the penalty under delayed delivery clauses. Regarding the taxability of cash compensatory support, the Tribunal upheld its taxability, noting changes in relevant tax laws. The Tribunal partly allowed the assessee's appeals. Case-Laws Income Tax Fri, 31 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69567