https://www.taxtmi.com/caselaws?id=17967 Excise duty liability arises on manufacture or production of excisable goods; later quantification or service of a demand notice concerns assessment and recovery rather than accrual. Under the mercantile system, a provision is deductible once the taxable event has occurred and the statutory liability has become sufficiently certain. Genuine uncertainty regarding dutiability may delay crystallisation, but once clarified, the liability is not contingent merely because the final demand is quantified later or subsequently revised. The excise duty provision was therefore treated as an accrued, allowable liability for the relevant accounting year. en-us Wed, 17 Jul 1996 00:00:00 +0530 Fri, 25 Sep 2009 18:22:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17967 Excise duty liability arises on manufacture or production of excisable goods; later quantification or service of a demand notice concerns assessment and recovery rather than accrual. Under the mercantile system, a provision is deductible once the taxable event has occurred and the statutory liability has become sufficiently certain. Genuine uncertainty regarding dutiability may delay crystallisation, but once clarified, the liability is not contingent merely because the final demand is quantified later or subsequently revised. The excise duty provision was therefore treated as an accrued, allowable liability for the relevant accounting year. Case-Laws Income Tax Wed, 17 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17967