https://www.taxtmi.com/highlights?id=42538 Ascertain liability / expenses - The maxim "debitum in praesenti solvendum in futuro" relied on by the ld. Authorised Representative, can apply only if there is an ascertained liability for which amount is to be crystallized and paid later, and not to a situation where there is only a claim, with no acknowledged liability. en-us Thu, 08 Nov 2018 11:46:53 +0530 Thu, 08 Nov 2018 11:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=42538 Ascertain liability / expenses - The maxim "debitum in praesenti solvendum in futuro" relied on by the ld. Authorised Representative, can apply only if there is an ascertained liability for which amount is to be crystallized and paid later, and not to a situation where there is only a claim, with no acknowledged liability. Highlights Income Tax Thu, 08 Nov 2018 11:46:53 +0530 https://www.taxtmi.com/highlights?id=42538