https://www.taxtmi.com/caselaws?id=8312 Additional price payable for sugar-cane under paragraph 3(3A) of the Sugar-cane Control Order was deductible in computing income for the relevant previous year because the liability arose automatically once sugar-cane was purchased and the minimum price under paragraph 3(1) was fixed. No separate order of the Cane Commissioner or other authority was a condition precedent. As the amount was ascertainable from the Schedule, the accrued liability was deductible on the mercantile system against profits in the year of accrual. The deduction was therefore allowable in favour of the assessee. en-us Fri, 26 Feb 1971 00:00:00 +0530 Thu, 09 Apr 2009 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8312 Additional price payable for sugar-cane under paragraph 3(3A) of the Sugar-cane Control Order was deductible in computing income for the relevant previous year because the liability arose automatically once sugar-cane was purchased and the minimum price under paragraph 3(1) was fixed. No separate order of the Cane Commissioner or other authority was a condition precedent. As the amount was ascertainable from the Schedule, the accrued liability was deductible on the mercantile system against profits in the year of accrual. The deduction was therefore allowable in favour of the assessee. Case-Laws Income Tax Fri, 26 Feb 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8312