https://www.taxtmi.com/caselaws?id=55398 Business expenditure is allowable in the year in which the liability crystallises, if the assessee cannot show that the liability was known or ascertainable earlier. On the stated facts, the debit note issued on 31 December 1977 was the first material indicating the liability, and there was no evidence of earlier ascertainment. The expenditure was therefore treated as having crystallised in the relevant previous year and was deductible for the assessment year under consideration. en-us Sat, 06 Mar 1982 00:00:00 +0530 Fri, 26 Nov 2010 18:09:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55398 Business expenditure is allowable in the year in which the liability crystallises, if the assessee cannot show that the liability was known or ascertainable earlier. On the stated facts, the debit note issued on 31 December 1977 was the first material indicating the liability, and there was no evidence of earlier ascertainment. The expenditure was therefore treated as having crystallised in the relevant previous year and was deductible for the assessment year under consideration. Case-Laws Income Tax Sat, 06 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55398