Allowing the appeal of the assessee the Tribunal held that ; Provision for interest on over due deposits being ascertained liabilities which is crystallised during the relevant previous year is held to be allowable as deduction .( AY.2009 -10)
Oriental Bank of Commerce v. Addl. CIT (2018) 162 DTR 257 /254 Taxman 197 (Delhi)(HC)
S.37(1):Business expenditure –Bank- Provision for interest on over due deposits being ascertained liabilities which is crystallised during the relevant previous year is held to be allowable as deduction [ S.145 ]