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1980 (9) TMI 152 - ITAT MADRAS-BExtract: ....... of accrual of the liability. Since the liability accrued w.e.f. 1st Jan., 1976 which is the first day of the previous year relevant to this assessment year, we have to accept that this expenditure was to be deducted in computing the total income of this assessment year. We, therefore, uphold the order of the CIT (Appeals). The appeal is dismissed.
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