https://www.taxtmi.com/caselaws?id=171751 The High Court upheld the Tribunal's decision that provisions for gratuity, leave encashment, and post-retirement medical benefit, estimated on an actuarial basis, were not unascertained liabilities but business liabilities created in the present year. Therefore, these provisions could be included in computing book profit under Section 115JB of the Income Tax Act, 1961. The court dismissed the revenue's appeal, finding no substantial question of law to be considered. en-us Tue, 06 Jul 2010 00:00:00 +0530 Wed, 13 Sep 2023 23:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171751 The High Court upheld the Tribunal's decision that provisions for gratuity, leave encashment, and post-retirement medical benefit, estimated on an actuarial basis, were not unascertained liabilities but business liabilities created in the present year. Therefore, these provisions could be included in computing book profit under Section 115JB of the Income Tax Act, 1961. The court dismissed the revenue's appeal, finding no substantial question of law to be considered. Case-Laws Income Tax Tue, 06 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171751