https://www.taxtmi.com/caselaws?id=17619 The court ruled in favor of the Revenue and against the assessee in interpreting section 43B of the Income-tax Act, 1961 for the assessment year 1984-85. The court held that the amounts in question, though not immediately payable, were deemed as taxable income for that year if the liability to pay tax or duty was incurred and subsequently paid by the assessee. The decision aligned with statutory provisions, previous judicial interpretations, and legislative intent, emphasizing that the assessee was not entitled to deductions, and the amounts were taxable for the assessment year. en-us Mon, 10 Jun 1996 00:00:00 +0530 Wed, 23 Sep 2009 16:27:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17619 The court ruled in favor of the Revenue and against the assessee in interpreting section 43B of the Income-tax Act, 1961 for the assessment year 1984-85. The court held that the amounts in question, though not immediately payable, were deemed as taxable income for that year if the liability to pay tax or duty was incurred and subsequently paid by the assessee. The decision aligned with statutory provisions, previous judicial interpretations, and legislative intent, emphasizing that the assessee was not entitled to deductions, and the amounts were taxable for the assessment year. Case-Laws Income Tax Mon, 10 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17619