https://www.taxtmi.com/caselaws?id=285761 Under the mercantile system, a provision for land revenue and allied charges was allowable where the final settlement was communicated immediately after the close of the accounting period and the relevant accounts remained open. The Tribunal accepted that the liability had crystallised in time for the assessee to make a provision in the year concerned, and the deduction was therefore admissible for the assessment year 1973-74. The question was answered in the affirmative, in favour of the assessee. en-us Thu, 09 Mar 1989 00:00:00 +0530 Fri, 24 Jan 2020 17:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285761 Under the mercantile system, a provision for land revenue and allied charges was allowable where the final settlement was communicated immediately after the close of the accounting period and the relevant accounts remained open. The Tribunal accepted that the liability had crystallised in time for the assessee to make a provision in the year concerned, and the deduction was therefore admissible for the assessment year 1973-74. The question was answered in the affirmative, in favour of the assessee. Case-Laws Income Tax Thu, 09 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285761