https://www.taxtmi.com/caselaws?id=798112 A BOT road-concessionaire may deduct a scientifically estimated provision for future major repairs when enforceable contractual maintenance obligations have accrued during the accounting year. Periodic repair duties, consequences of breach, and defect-cure obligations on termination establish a present business liability. Where the provision is based on a detailed and reasonably certain estimate, supported by subsequent actual expenditure, deferred quantification or payment does not make it contingent. The provision for major repairs is therefore an allowable deduction despite the expenditure being incurred in a later period. en-us Fri, 31 Jul 2026 00:00:00 +0530 Wed, 02 Sep 2026 08:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798112 A BOT road-concessionaire may deduct a scientifically estimated provision for future major repairs when enforceable contractual maintenance obligations have accrued during the accounting year. Periodic repair duties, consequences of breach, and defect-cure obligations on termination establish a present business liability. Where the provision is based on a detailed and reasonably certain estimate, supported by subsequent actual expenditure, deferred quantification or payment does not make it contingent. The provision for major repairs is therefore an allowable deduction despite the expenditure being incurred in a later period. Case-Laws Income Tax Fri, 31 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798112