https://www.taxtmi.com/caselaws?id=12537 The High Court upheld the Tribunal's decision to allow the contingent liability as an expenditure and delete it from the book profit computation. The court ruled against imposing additional tax on the assessee, citing established legal principles regarding accrued liabilities and deductions for expenses incurred during the relevant accounting period. en-us Wed, 05 Jun 2002 00:00:00 +0530 Tue, 19 May 2009 18:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12537 The High Court upheld the Tribunal's decision to allow the contingent liability as an expenditure and delete it from the book profit computation. The court ruled against imposing additional tax on the assessee, citing established legal principles regarding accrued liabilities and deductions for expenses incurred during the relevant accounting period. Case-Laws Income Tax Wed, 05 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12537