https://www.taxtmi.com/caselaws?id=797965 Corporate guarantee settlement liability became deductible in Assessment Year 1998-99 because the parties had agreed the full and final liability during the relevant previous year. Board approval and correspondence supported crystallisation of the obligation in that period. Subsequent filing of consent terms and payment in 1999 merely implemented the liability already determined and did not defer deductibility. The factual finding on crystallisation of liability remained undisturbed, resulting in deductibility for the relevant assessment year. en-us Wed, 22 Jul 2026 00:00:00 +0530 Mon, 31 Aug 2026 08:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797965 Corporate guarantee settlement liability became deductible in Assessment Year 1998-99 because the parties had agreed the full and final liability during the relevant previous year. Board approval and correspondence supported crystallisation of the obligation in that period. Subsequent filing of consent terms and payment in 1999 merely implemented the liability already determined and did not defer deductibility. The factual finding on crystallisation of liability remained undisturbed, resulting in deductibility for the relevant assessment year. Case-Laws Income Tax Wed, 22 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797965