https://www.taxtmi.com/caselaws?id=20239 The court ruled in favor of the assessee, allowing the deduction of disputed expenditure related to dealings with the State Trading Corporation of India. The Revenue's appeal against the Tribunal's decision to permit deduction of godown rent and insurance charges was dismissed. The court emphasized the importance of ascertained liabilities for deduction purposes, citing legal precedents like the Kedarnath Jute case. Due to the lack of evidence from the Revenue regarding the nature of the dispute, the court upheld the deduction in favor of the assessee. en-us Wed, 24 Feb 1993 00:00:00 +0530 Thu, 12 Nov 2009 16:41:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20239 The court ruled in favor of the assessee, allowing the deduction of disputed expenditure related to dealings with the State Trading Corporation of India. The Revenue's appeal against the Tribunal's decision to permit deduction of godown rent and insurance charges was dismissed. The court emphasized the importance of ascertained liabilities for deduction purposes, citing legal precedents like the Kedarnath Jute case. Due to the lack of evidence from the Revenue regarding the nature of the dispute, the court upheld the deduction in favor of the assessee. Case-Laws Income Tax Wed, 24 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20239