https://www.taxtmi.com/caselaws?id=185024 Consistent accounting treatment was accepted for excise duty in closing stock, interest on farmer loans on realization basis, export pass fee embedded in purchase price, interest on disputed FDR amounts, and privilege fee paid to carry on liquor business. The Tribunal treated the excise duty adjustment as unsustainable where stock valuation and section 43B considerations were already reflected, accepted realization basis for farmer-loan interest because that method had been consistently followed, allowed export pass fee as a business-related payment rather than a contingent liability, found no taxable accrual of FDR interest without an absolute right to the underlying amount, and held privilege fee to be deductible business expenditure rather than appropriation of profits. en-us Fri, 03 Jun 2011 00:00:00 +0530 Thu, 28 Jul 2016 12:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185024 Consistent accounting treatment was accepted for excise duty in closing stock, interest on farmer loans on realization basis, export pass fee embedded in purchase price, interest on disputed FDR amounts, and privilege fee paid to carry on liquor business. The Tribunal treated the excise duty adjustment as unsustainable where stock valuation and section 43B considerations were already reflected, accepted realization basis for farmer-loan interest because that method had been consistently followed, allowed export pass fee as a business-related payment rather than a contingent liability, found no taxable accrual of FDR interest without an absolute right to the underlying amount, and held privilege fee to be deductible business expenditure rather than appropriation of profits. Case-Laws Income Tax Fri, 03 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185024