https://www.taxtmi.com/caselaws?id=60096 The Tribunal allowed the appeal of the assessee by condoning the delay in filing the appeal and deleting the addition of Rs. 3,58,500 disallowed for purchases made by the assessee. The Tribunal held that the assessee's method of accounting based on delivery was consistent and should be accepted, emphasizing that statutory liabilities or expenses can be deducted in the year they become real and enforceable. The Tribunal concluded that the Revenue authorities were not justified in rejecting the assessee's books of account or making the addition on account of purchases. en-us Mon, 14 Oct 1996 00:00:00 +0530 Mon, 03 Jan 2011 16:50:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60096 The Tribunal allowed the appeal of the assessee by condoning the delay in filing the appeal and deleting the addition of Rs. 3,58,500 disallowed for purchases made by the assessee. The Tribunal held that the assessee's method of accounting based on delivery was consistent and should be accepted, emphasizing that statutory liabilities or expenses can be deducted in the year they become real and enforceable. The Tribunal concluded that the Revenue authorities were not justified in rejecting the assessee's books of account or making the addition on account of purchases. Case-Laws Income Tax Mon, 14 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60096