Allowability of liability under “long service award” scheme
Last updated: 20 March 2009
Court :
HIGH COURT OF DELHI
Brief :
The provision for a liability is amenable to a deduction if there is an element of certaintly that it shall be incurred and it is possible to estimate the liability with reasonable certainty even though the actual quantification may not be possible.
Citation :
CIT
v
Insilco Limited
ITA NO. 873/2008 & 1156/2008
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CA Devanshi Gandhi (Ajani)
Published in Income Tax
Views : 2297
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