https://www.taxtmi.com/caselaws?id=13336 The High Court ruled in favor of the assessee, affirming the Tribunal's decision to allow the deduction of Rs. 35,129 for market fee expenditure under the mercantile system of accounting for the assessment year 1980-81. The court emphasized that the timing of the liability's accrual within the relevant accounting year justified its deductibility, based on the sequence of events leading to the market fee liability. en-us Tue, 08 Feb 2005 00:00:00 +0530 Thu, 28 May 2009 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13336 The High Court ruled in favor of the assessee, affirming the Tribunal's decision to allow the deduction of Rs. 35,129 for market fee expenditure under the mercantile system of accounting for the assessment year 1980-81. The court emphasized that the timing of the liability's accrual within the relevant accounting year justified its deductibility, based on the sequence of events leading to the market fee liability. Case-Laws Income Tax Tue, 08 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13336