https://www.taxtmi.com/highlights?id=28911 Amount of repayment - deductiblility in computing the income in the year of receipt - Once it is clear that the liability arose on the date of the contract but what was postponed was only the payment, there is no escape from the conclusion that the assessee can claim the expenditure in the year of Fixed Deposit Receipt. - HC en-us Mon, 02 May 2016 00:37:28 +0530 Sun, 01 May 2016 14:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=28911 Amount of repayment - deductiblility in computing the income in the year of receipt - Once it is clear that the liability arose on the date of the contract but what was postponed was only the payment, there is no escape from the conclusion that the assessee can claim the expenditure in the year of Fixed Deposit Receipt. - HC Highlights Income Tax Mon, 02 May 2016 00:37:28 +0530 https://www.taxtmi.com/highlights?id=28911