https://www.taxtmi.com/caselaws?id=180558 Interest on deposits with a bank under RBI restraint did not accrue as taxable income merely because the assessee followed the mercantile system, since recovery remained uncertain until the restriction ceased. Ex gratia payment above Payment of Bonus Act limits was allowable as business expenditure if actually paid and incurred wholly for business purposes, subject to verification of payment. Leave encashment actually paid during the year was deductible because it was not a mere provision. The additions were not sustained and the Revenue's appeal failed. en-us Thu, 27 Sep 2012 00:00:00 +0530 Mon, 29 Jan 2018 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180558 Interest on deposits with a bank under RBI restraint did not accrue as taxable income merely because the assessee followed the mercantile system, since recovery remained uncertain until the restriction ceased. Ex gratia payment above Payment of Bonus Act limits was allowable as business expenditure if actually paid and incurred wholly for business purposes, subject to verification of payment. Leave encashment actually paid during the year was deductible because it was not a mere provision. The additions were not sustained and the Revenue's appeal failed. Case-Laws Income Tax Thu, 27 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180558