Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Actuarially determined provision for accumulated non-encashable sick leave constitutes an accrued employee-benefit liability where employees earn paid future leave through services rendered during the relevant year. The employer's obligation to grant paid absence when leave is used remains a financial obligation, despite no employee right to receive cash for unused leave. Uncertainty over the employee or timing of future utilisation does not make a scientifically estimated liability contingent. As no payment is made in lieu of leave, leave-encashment payment conditions do not apply. The provision is deductible as an accrued business liability, and the disallowance was deleted.
Actuarially determined provision for accumulated non-encashable sick leave constitutes an accrued employee-benefit liability where employees earn paid future leave through services rendered during the relevant year. The employer's obligation to grant paid absence when leave is used remains a financial obligation, despite no employee right to receive cash for unused leave. Uncertainty over the employee or timing of future utilisation does not make a scientifically estimated liability contingent. As no payment is made in lieu of leave, leave-encashment payment conditions do not apply. The provision is deductible as an accrued business liability, and the disallowance was deleted.
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