TMI BlogDisallowance on account of Royalty - estimated liability - What should be certain is the incurring of...Disallowance on account of Royalty - estimated liability - What should be certain is the incurring of the liability. It should also be capable of being estimated with reasonable certainty though the actual quantification may not be possible. If these requirements are satisfied the liability is not a contingent one. The liability is in present though it will be discharged at a future date. - Deduction allowed - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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