https://www.taxtmi.com/caselaws?id=23702 The High Court affirmed the liability of the assessee for damages determined by arbitration awards, stating that liability crystallized upon acceptance of the awards, not requiring a court decree. The court upheld the deduction for damages as per the awards. However, regarding the entitlement to weighted deduction under section 35B of the Income-tax Act, the High Court directed the Tribunal to reconsider the matter, emphasizing the need for a thorough examination of payment details and eligibility for the deduction. The case was remanded to the Tribunal for a proper determination of the entitlement to the deduction under section 35B. en-us Wed, 21 Jun 1989 00:00:00 +0530 Wed, 23 Dec 2009 15:56:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23702 The High Court affirmed the liability of the assessee for damages determined by arbitration awards, stating that liability crystallized upon acceptance of the awards, not requiring a court decree. The court upheld the deduction for damages as per the awards. However, regarding the entitlement to weighted deduction under section 35B of the Income-tax Act, the High Court directed the Tribunal to reconsider the matter, emphasizing the need for a thorough examination of payment details and eligibility for the deduction. The case was remanded to the Tribunal for a proper determination of the entitlement to the deduction under section 35B. Case-Laws Income Tax Wed, 21 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23702