https://www.taxtmi.com/caselaws?id=12675 The High Court of Delhi ruled against the assessee, determining that the provision for registration charges in its accounts did not constitute an accrued liability against the profit of the year. The court found that based on the agreement between the assessee and buyers, the responsibility for registration charges lay with the buyers, not the assessee. Therefore, the court held that the assessee could not claim the provision as an admitted liability, as it was aware it would not incur these expenses. The decision highlighted the significance of contractual agreements in determining liabilities and expenses for tax purposes. en-us Tue, 23 Apr 2002 00:00:00 +0530 Thu, 21 May 2009 11:12:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12675 The High Court of Delhi ruled against the assessee, determining that the provision for registration charges in its accounts did not constitute an accrued liability against the profit of the year. The court found that based on the agreement between the assessee and buyers, the responsibility for registration charges lay with the buyers, not the assessee. Therefore, the court held that the assessee could not claim the provision as an admitted liability, as it was aware it would not incur these expenses. The decision highlighted the significance of contractual agreements in determining liabilities and expenses for tax purposes. Case-Laws Income Tax Tue, 23 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12675