https://www.taxtmi.com/caselaws?id=38445 The High Court held that the assessee, a non-resident public limited company, was entitled to claim a deduction for additional export duty in the year the liability arose, even if the claim was not made before the Income-tax Officer. The Court relied on the principle of maintaining accounts on the mercantile system and previous case law supporting deductions for disputed liabilities. Consequently, the Tribunal's decision to allow the deduction of Rs. 29,33,886 was upheld in favor of the assessee, with the revenue directed to pay the assessee's costs. en-us Wed, 28 Sep 1977 00:00:00 +0530 Tue, 06 Apr 2010 12:27:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38445 The High Court held that the assessee, a non-resident public limited company, was entitled to claim a deduction for additional export duty in the year the liability arose, even if the claim was not made before the Income-tax Officer. The Court relied on the principle of maintaining accounts on the mercantile system and previous case law supporting deductions for disputed liabilities. Consequently, the Tribunal's decision to allow the deduction of Rs. 29,33,886 was upheld in favor of the assessee, with the revenue directed to pay the assessee's costs. Case-Laws Income Tax Wed, 28 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38445