Case Law Details
Case Name : Madras Industrial Investment Corporation Ltd Vs Commissioner Of Income Tax,Tamil Nadu I, Madras (Supreme Court of India)
Appeal Number : (1997) 225 ITR 802 (SC) (1997) 4 SCC 666
Date of Judgement/Order : 04/04/1997
Related Assessment Year :
Courts :
Supreme Court of India
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Since the entire liability to pay the discount had been incurred in the accounting year in question, the assessee was entitled to deduct the entire amount of Rs 3,00,000 in that accounting year This conclusion does not appear to be justified looking to the nature of the liability It is true that the liability has been incurred in
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