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Commissioner Of Income Tax vs Kanoria Chemicals & Industries Ltd. on 25 September, 1989 cites

Commissioner Of Income-Tax vs Orient Supply Syndicate on 19 February, 1981

In the case of CIT vs. Orient Supply Syndicate (1981 (1982) 134 ITR 12 (Cal), it was held by Sabyasachi Mukharji, J. that it was not correct in all cases to say that the statutory liability discharged in a particular year became eligible for deduction in the year in question under the mercantile system of accounting. It depended on the facts and circumstances of each case and on the statutory provisions. In that case it was observed that when the demand became real and enforceable, the assessee was entitled to debit the amount in its account.
Calcutta High Court Cites 8 - Cited by 23 - S Mukharji - Full Document

Commissioner Of Income-Tax, West ... vs Shewbux Jahurilal. on 10 January, 1962

In the case of CIT vs. Shewbux Jahurilal (1962) 46 ITR 688 (Cal), it was held by a Division of this Court that even though the assessee maintained accounts on the mercantile system, he was not bound to show all anticipated losses as and when the claims were made and pay tax on that basis and had the matter readjusted later when the anticipated loss was quantified. It was further held that the loss could be claimed only when it was ascertained and the assessee was, therefore, entitled to have the loss allowed in the asst. yr. 1950-51 when the matter was finally settled.
Calcutta High Court Cites 15 - Cited by 17 - Full Document
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