https://www.taxtmi.com/caselaws?id=186964 Estimated development expenses were treated as a liability in praesenti, not a contingent liability, because the obligation had accrued and was deductible. Applying the earlier ruling in the assessee's own case, the HC upheld the Tribunal's allowance of the development expenditure and rejected the revenue's disallowance. The legal position affirmed was that an accrued liability for development expenses can qualify as a deductible expense when the obligation is present and not merely contingent. en-us Fri, 25 Apr 2003 00:00:00 +0530 Wed, 05 Oct 2016 17:10:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186964 Estimated development expenses were treated as a liability in praesenti, not a contingent liability, because the obligation had accrued and was deductible. Applying the earlier ruling in the assessee's own case, the HC upheld the Tribunal's allowance of the development expenditure and rejected the revenue's disallowance. The legal position affirmed was that an accrued liability for development expenses can qualify as a deductible expense when the obligation is present and not merely contingent. Case-Laws Income Tax Fri, 25 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186964