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event, an expenditure made to meet a contingent liability.
Mr. S. Iyengar, who appeared on behalf of the assessee,
objected ... money for an accrued
liability and not for a contingent liability, which
contingency may or may not take place; that
Supreme Court of India
liability to pay
gratuity continues to be a contingent liability qua the
employer. Since the amount of gratuity payable ... future use a
sum every year to meet the contingent liability as a
provision for gratuity or a fund
Supreme Court of India
ground that the liability was merely a contingent
liability not allowable as a deduction under Section 37 of the
Income ... warranty claim is actual
liability, accrued liability or contingent liability. Since in the
relevant year there was no claim
Supreme Court of India
regarded as a provision made for a contingent
liability, for, under a scheme framed by a company the
liability ... includes any
expenditure contracted for and arising under a contingent
liability: but if the sum so appropriated is shown
Supreme Court of India
Delhi High Court
Delhi Flour Mills Co. Ltd. vs Commissioner Of Income-Tax on 8
Delhi High Court
whatever period it relates, is at best a contingent
liability even at the stage the claim is preferred. It becomes ... alive to the feature that it was only a contingent liability at that
stage -was not one of the factors
Madras High Court
official liquidator, this tax demand was a
contingent liability on the date of the winding up and, therefore,
admissible ... balancing charge should be taken into account as a contingent
liability. This contention was accepted by the House of Lords
Kerala High Court
accrued liability, that it is not a contingent liability as is assumed
by the taxing authorities, and that, therefore ... debt and the liability is only a contingent
liability. In a recent decision of the Privy Council in Guiana
Industrial
Madras High Court
based on actuarial
calculation was held to be a contingent liability by the Supreme
Court in Bombay Dyeing and Manufacturing ... employees on determination of employment is a
mere contingent liability which arises only when the employment of the
employee
Calcutta High Court
Income Tax Appellate Tribunal - Chennai
Hardy Exploration & Production ... vs Assessee on 9 June, 2011
Income Tax Appellate Tribunal - Chennai
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