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2018 (1) TMI 904 - HC - Income TaxClaim for accrued for ascertain liability of interest on overdue deposits claimed - Held that:- There can be no doubt that the assessee/bank was not only aware of its liability on the particular aspect, but, in fact, was able to crystallize it and set it out expeditiously in its returns. The possibility of likelihood of the depositor renewing the overdue deposit or for that matter, the payment being made later, in no way deflects from the reality that the assessee is able to identify its liability at the time, when it filed its returns. In that sense-for the reasons spelt out in detail in Aggarwal and Modi’s case (2016 (1) TMI 790 - DELHI HIGH COURT), the liability was ascertained and not unascertained. Consequently, the question of law is answered in favour of the assessee and against the Revenue.
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