https://www.taxtmi.com/caselaws?id=8138 Under the mercantile system, sales tax liability is deductible when it has accrued and is ascertained during the relevant accounting year. A provision for the estimated liability of the current year was treated as allowable, and demand notices served during the year were treated as fixing the liability for earlier years because the record did not show that those amounts remained disputed after service of notice. On that basis, the full sales tax amount covered by the notices was regarded as an allowable business deduction in computing business income. en-us Thu, 10 Dec 1970 00:00:00 +0530 Sat, 28 Mar 2009 19:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8138 Under the mercantile system, sales tax liability is deductible when it has accrued and is ascertained during the relevant accounting year. A provision for the estimated liability of the current year was treated as allowable, and demand notices served during the year were treated as fixing the liability for earlier years because the record did not show that those amounts remained disputed after service of notice. On that basis, the full sales tax amount covered by the notices was regarded as an allowable business deduction in computing business income. Case-Laws Income Tax Thu, 10 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8138