https://www.taxtmi.com/caselaws?id=56339 The Tribunal dismissed the appeal, ruling that the provision made by the assessee regarding the excise duty demand was not deductible as the liability had not crystallized in the relevant accounting year. The Tribunal emphasized that for a liability to be deductible, it must have crystallized in the same year, and in this case, the liability was contingent as the supplier was disputing the excise duty demand. The letters from the supplier did not establish that a liability had been incurred by the assessee, leading to the conclusion that the provision represented a contingent liability and was not allowable as a deduction. en-us Mon, 15 Oct 1990 00:00:00 +0530 Fri, 03 Dec 2010 11:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56339 The Tribunal dismissed the appeal, ruling that the provision made by the assessee regarding the excise duty demand was not deductible as the liability had not crystallized in the relevant accounting year. The Tribunal emphasized that for a liability to be deductible, it must have crystallized in the same year, and in this case, the liability was contingent as the supplier was disputing the excise duty demand. The letters from the supplier did not establish that a liability had been incurred by the assessee, leading to the conclusion that the provision represented a contingent liability and was not allowable as a deduction. Case-Laws Income Tax Mon, 15 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56339