https://www.taxtmi.com/caselaws?id=250983 The High Court set aside the Tribunal's order and affirmed the rejection of the leave encashment deduction for the assessee in the assessment year 1998-99. The Court emphasized the necessity of estimating liabilities with reasonable certainty, highlighting inconsistencies in the assessee's accounting methods and the lack of substantiating evidence for the claimed amount. The decision in Bharat Earth Movers Ltd. was deemed inapplicable due to the uncertainty surrounding the leave encashment liability in this case. The appeal was allowed in favor of the Revenue, stressing the importance of clear and consistent accounting practices. en-us Mon, 11 Aug 2014 00:00:00 +0530 Thu, 19 Feb 2015 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250983 The High Court set aside the Tribunal's order and affirmed the rejection of the leave encashment deduction for the assessee in the assessment year 1998-99. The Court emphasized the necessity of estimating liabilities with reasonable certainty, highlighting inconsistencies in the assessee's accounting methods and the lack of substantiating evidence for the claimed amount. The decision in Bharat Earth Movers Ltd. was deemed inapplicable due to the uncertainty surrounding the leave encashment liability in this case. The appeal was allowed in favor of the Revenue, stressing the importance of clear and consistent accounting practices. Case-Laws Income Tax Mon, 11 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250983