https://www.taxtmi.com/caselaws?id=60358 A statutory price-difference liability under a wheat purchase control order was treated as deductible in the year the competent authority raised the demand, even though the assessee continued to dispute the demand in litigation. Applying the principle in Kedarnath Jute Mfg. Co. Ltd., the text states that a statutory obligation accrues and is deductible when it becomes a real and enforceable liability, and not only when litigation ends. Earlier Calcutta High Court decisions were distinguished because the liabilities there had not been demanded in the relevant year. The deduction was therefore allowed in assessment year 1983-84. en-us Wed, 11 Nov 1987 00:00:00 +0530 Tue, 04 Jan 2011 17:56:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60358 A statutory price-difference liability under a wheat purchase control order was treated as deductible in the year the competent authority raised the demand, even though the assessee continued to dispute the demand in litigation. Applying the principle in Kedarnath Jute Mfg. Co. Ltd., the text states that a statutory obligation accrues and is deductible when it becomes a real and enforceable liability, and not only when litigation ends. Earlier Calcutta High Court decisions were distinguished because the liabilities there had not been demanded in the relevant year. The deduction was therefore allowed in assessment year 1983-84. Case-Laws Income Tax Wed, 11 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60358