https://www.taxtmi.com/caselaws?id=376043 The court dismissed the appeal, upholding the Tribunal's decision that the appellant was not entitled to deduction for the provision of the liability for construction of municipal staff quarters, road depot, and compound wall. The court emphasized the importance of a liability being crystallized and not contingent for it to be allowed as an expenditure, even under the mercantile system of accounting. en-us Tue, 26 Feb 2019 00:00:00 +0530 Fri, 01 Mar 2019 07:48:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376043 The court dismissed the appeal, upholding the Tribunal's decision that the appellant was not entitled to deduction for the provision of the liability for construction of municipal staff quarters, road depot, and compound wall. The court emphasized the importance of a liability being crystallized and not contingent for it to be allowed as an expenditure, even under the mercantile system of accounting. Case-Laws Income Tax Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376043