Case Law Details
Case Name : Paharpur Cooling Towers Ltd. Vs CIT (Calcutta High Court)
Related Assessment Year :
Courts :
All High Courts Calcutta High Court
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Paharpur Cooling Towers Ltd. Vs CIT (High Court of Calcutta)- It was never the intention of the legislature to deprive an assessee of the benefit of deduction of tax, duty etc. actually paid by him during the previous year, although in advance, according to the method of accounting followed by him. If we accept the reasoning given by the Tribunal, an advance payer of tax, duty etc. payable in accordance with the method of accounting followed by him will not be entitled to get the benefit even in the next year when liability to pay would accrue
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