https://www.taxtmi.com/caselaws?id=266231 Provision for gratuity and leave encashment was treated as allowable where supported by an actuarial certificate and a scientific, reliable estimation method. On that basis, the conditions for recognising a provision were satisfied under the governing legal principle. A rectification under section 154 acknowledged that the earlier omission was an oversight and that the claim fell within the binding rule on provision recognition. The addition was therefore deleted and the Revenue's challenge failed. en-us Wed, 20 May 2015 00:00:00 +0530 Mon, 19 Oct 2015 07:56:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266231 Provision for gratuity and leave encashment was treated as allowable where supported by an actuarial certificate and a scientific, reliable estimation method. On that basis, the conditions for recognising a provision were satisfied under the governing legal principle. A rectification under section 154 acknowledged that the earlier omission was an oversight and that the claim fell within the binding rule on provision recognition. The addition was therefore deleted and the Revenue's challenge failed. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266231