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2011 (5) TMI 816 - HC - Income TaxWhether Tribunal was right in law in allowing deduction of claim of ONGC liability, disregarding the fact that during the year assessee has not paid any amount towards this liability - assessee's liability to pay interest to the ONGC was finally decided by the Supreme Court in its judgment – Held that:- if a business liability has definitely arisen in the accounting year, the deduction should be allowed, Tax Appeal dismissed [Bharat Earth Movers(2000 - TMI - 5816 - SUPREME Court)]
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