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Accrual of liability - whether contingent - Merely because the asseessee was negotiating with the ONGC alongwith other members of the association for softer terms and for charging simple interest instead of compound interest would not mean that this liability was in any manner contingent. - HC

Income Tax - Accrual of liability - whether contingent - Merely because the asseessee was negotiating with the ONGC alongwith other members of the association for softer terms and for charging simple interest instead of compound interest would not mean that this liability was in any manner contingent. - HC - TMI Updates - Highlights .....

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