https://www.taxtmi.com/caselaws?id=58211 The Tribunal dismissed the Revenue's appeal, affirming the deletion of the disallowance of Rs. 2,55,000 for unaccrued liability of technical know-how fees. It held that the liability had accrued during the relevant year under the Mercantile System of accounting, based on the terms of the agreement and previous case law. The Tribunal emphasized that the entire amount of liability should be deductible in the year it accrued, supporting the decision to delete the disallowance. en-us Fri, 02 Jun 1989 00:00:00 +0530 Fri, 17 Dec 2010 18:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58211 The Tribunal dismissed the Revenue's appeal, affirming the deletion of the disallowance of Rs. 2,55,000 for unaccrued liability of technical know-how fees. It held that the liability had accrued during the relevant year under the Mercantile System of accounting, based on the terms of the agreement and previous case law. The Tribunal emphasized that the entire amount of liability should be deductible in the year it accrued, supporting the decision to delete the disallowance. Case-Laws Income Tax Fri, 02 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58211