https://www.taxtmi.com/caselaws?id=22298 The court upheld the deduction claim for excise duty under the Income-tax Act for the assessment year 1981-82, following the principles established in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT. The court emphasized that the deduction eligibility depends on legal provisions rather than the assessee's subjective view. The court rejected the petitioner's argument that excise duty liability for prior years should not be deductible in the assessment year 1981-82, highlighting the timing of the liability as crucial. Ultimately, the court dismissed the petition, finding no merit in the petitioner's contentions. en-us Wed, 20 Feb 1991 00:00:00 +0530 Wed, 09 Dec 2009 10:45:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22298 The court upheld the deduction claim for excise duty under the Income-tax Act for the assessment year 1981-82, following the principles established in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT. The court emphasized that the deduction eligibility depends on legal provisions rather than the assessee's subjective view. The court rejected the petitioner's argument that excise duty liability for prior years should not be deductible in the assessment year 1981-82, highlighting the timing of the liability as crucial. Ultimately, the court dismissed the petition, finding no merit in the petitioner's contentions. Case-Laws Income Tax Wed, 20 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22298