https://www.taxtmi.com/caselaws?id=57971 The Tribunal allowed the assessee's appeal, confirming the accrued excise duty liability for the Sewree Unit as deductible. The decision was based on the principle that the liability accrues upon the manufacture of goods, irrespective of stay orders. The Tribunal also upheld the deduction for the Coorla Unit in line with the mercantile system of accounting and the Supreme Court's precedent in Kedarnath Jute Mfg. Co. Ltd. The department's argument that stay orders negate liability was rejected, emphasizing that a stay only postpones recovery, not extinguishes the liability. en-us Thu, 19 Mar 1987 00:00:00 +0530 Wed, 15 Dec 2010 16:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57971 The Tribunal allowed the assessee's appeal, confirming the accrued excise duty liability for the Sewree Unit as deductible. The decision was based on the principle that the liability accrues upon the manufacture of goods, irrespective of stay orders. The Tribunal also upheld the deduction for the Coorla Unit in line with the mercantile system of accounting and the Supreme Court's precedent in Kedarnath Jute Mfg. Co. Ltd. The department's argument that stay orders negate liability was rejected, emphasizing that a stay only postpones recovery, not extinguishes the liability. Case-Laws Income Tax Thu, 19 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57971