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1989 (3) TMI 24 - CALCUTTA HIGH COURTExtract: .......e allowed as deduction. The liability to pay tax arises at least on the last day of the relevant financial year. Quantification of the liability may be deferred but the accrual of the liability can not be deferred. Under the circumstances, the question is answered in the affirmative and in favour of the assessee. There will be no order as to costs.
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