https://www.taxtmi.com/caselaws?id=214414 HC held the revisionary order under s.263 invalid. Premiums paid for a group leave encashment insurance policy were allowable as business expenditure under s.37 because the insurer, not the assessee, bore the leave encashment liability, so no liability arose to attract s.43B(f). Revenue, having accepted the cited HC decision treating s.43B(f) as unconstitutional, could not rely on s.43B(f). Decision affirmed in favour of the assessee. en-us Thu, 07 Jun 2012 00:00:00 +0530 Mon, 06 Oct 2025 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214414 HC held the revisionary order under s.263 invalid. Premiums paid for a group leave encashment insurance policy were allowable as business expenditure under s.37 because the insurer, not the assessee, bore the leave encashment liability, so no liability arose to attract s.43B(f). Revenue, having accepted the cited HC decision treating s.43B(f) as unconstitutional, could not rely on s.43B(f). Decision affirmed in favour of the assessee. Case-Laws Income Tax Thu, 07 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214414