https://www.taxtmi.com/caselaws?id=60117 A statutory liability for workmen's compensation accrues when the compensable accident occurs, because the employer's obligation arises on injury caused in the course of employment. The fact that the claims were contested and later quantified by the Commissioner did not make the liability contingent, since section 19 only provides a mechanism for settling disputes about liability or amount and does not defer the existence of the liability itself. On mercantile accounting, an accrued statutory liability is deductible in the relevant accounting year. The article therefore states that the deduction was allowable in the year of accrual and not postponed until adjudication or quantification. en-us Wed, 23 Sep 1981 00:00:00 +0530 Mon, 03 Jan 2011 17:40:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60117 A statutory liability for workmen's compensation accrues when the compensable accident occurs, because the employer's obligation arises on injury caused in the course of employment. The fact that the claims were contested and later quantified by the Commissioner did not make the liability contingent, since section 19 only provides a mechanism for settling disputes about liability or amount and does not defer the existence of the liability itself. On mercantile accounting, an accrued statutory liability is deductible in the relevant accounting year. The article therefore states that the deduction was allowable in the year of accrual and not postponed until adjudication or quantification. Case-Laws Income Tax Wed, 23 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60117