https://www.taxtmi.com/caselaws?id=182484 The Tribunal dismissed the Revenue's appeal and upheld the decision of the CIT (Appeals) to allow the provision made by the assessee for payment of arrears of salary. The judgment emphasized the importance of adhering to accounting standards and recognizing liabilities under the mercantile system of accounting. The Tribunal concluded that the liability for arrears of pay scales was properly ascertained during the relevant assessment year, supporting the assessee's position. en-us Thu, 10 Sep 2015 00:00:00 +0530 Wed, 11 May 2016 23:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182484 The Tribunal dismissed the Revenue's appeal and upheld the decision of the CIT (Appeals) to allow the provision made by the assessee for payment of arrears of salary. The judgment emphasized the importance of adhering to accounting standards and recognizing liabilities under the mercantile system of accounting. The Tribunal concluded that the liability for arrears of pay scales was properly ascertained during the relevant assessment year, supporting the assessee's position. Case-Laws Income Tax Thu, 10 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182484