https://www.taxtmi.com/caselaws?id=21546 The court ruled in favor of the Revenue, disallowing the deduction claim for the provision made for future interest by the exporter of tea. The court held that the provision did not accrue as a liability by the specified date and was deemed a contingent liability. The issue regarding whether 10% of the export price constituted income for the assessment year was not addressed by the court as it was not part of the Tribunal's order. en-us Fri, 11 Oct 1991 00:00:00 +0530 Wed, 25 Nov 2009 12:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21546 The court ruled in favor of the Revenue, disallowing the deduction claim for the provision made for future interest by the exporter of tea. The court held that the provision did not accrue as a liability by the specified date and was deemed a contingent liability. The issue regarding whether 10% of the export price constituted income for the assessment year was not addressed by the court as it was not part of the Tribunal's order. Case-Laws Income Tax Fri, 11 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21546