https://www.taxtmi.com/caselaws?id=19160 The High Court ruled in favor of the assessee, allowing the deduction of Rs. 2,64,113 demanded by the land and building tax authority for earlier years in the assessment year 1979-80. The court emphasized that under the mercantile system of accounting, the additional tax liability created after the assessee had paid the admitted tax amount could not have been anticipated, and therefore, should be considered for computing the total income of the assessee for the relevant year. en-us Thu, 12 Jan 1995 00:00:00 +0530 Wed, 04 Nov 2009 13:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19160 The High Court ruled in favor of the assessee, allowing the deduction of Rs. 2,64,113 demanded by the land and building tax authority for earlier years in the assessment year 1979-80. The court emphasized that under the mercantile system of accounting, the additional tax liability created after the assessee had paid the admitted tax amount could not have been anticipated, and therefore, should be considered for computing the total income of the assessee for the relevant year. Case-Laws Income Tax Thu, 12 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19160