https://www.taxtmi.com/caselaws?id=202400 HC dismissed the revenue appeal, holding that although ordinarily deductions require actual or accrued liability, the taxpayer's provision for project losses under the completed-contract accounting method and applicable accounting standards was prima facie justifiable and aligns with matching of costs and revenues. The court found it unnecessary to decide the legal question because the issue was revenue-neutral: a provision of Rs. 139 lakhs was followed by actual expenditure of Rs. 218.03 lakhs, and the expenditure is undisputedly deductible; thus no substantial question of law arose and the appeal was dismissed. en-us Mon, 29 Nov 2010 00:00:00 +0530 Wed, 03 Jun 2026 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202400 HC dismissed the revenue appeal, holding that although ordinarily deductions require actual or accrued liability, the taxpayer's provision for project losses under the completed-contract accounting method and applicable accounting standards was prima facie justifiable and aligns with matching of costs and revenues. The court found it unnecessary to decide the legal question because the issue was revenue-neutral: a provision of Rs. 139 lakhs was followed by actual expenditure of Rs. 218.03 lakhs, and the expenditure is undisputedly deductible; thus no substantial question of law arose and the appeal was dismissed. Case-Laws Income Tax Mon, 29 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202400