https://www.taxtmi.com/caselaws?id=191365 The tribunal allowed the department's appeal, restoring the disallowance of Rs. 48,05,871 for provision for compensation under the voluntary retirement scheme (VRS) and the interest amount of Rs. 14,19,296 charged under section 215 of the Income Tax Act. The tribunal held that the liability for the Part II payment under VRS was contingent and dependent on certain conditions, supporting the Assessing Officer's disallowance. Additionally, the tribunal disagreed with the CIT(A) and reinstated the levy of interest under section 215, advising the assessee to seek reduction or waiver from the Assessing Officer if desired. en-us Thu, 05 Nov 1998 00:00:00 +0530 Fri, 31 Mar 2017 16:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191365 The tribunal allowed the department's appeal, restoring the disallowance of Rs. 48,05,871 for provision for compensation under the voluntary retirement scheme (VRS) and the interest amount of Rs. 14,19,296 charged under section 215 of the Income Tax Act. The tribunal held that the liability for the Part II payment under VRS was contingent and dependent on certain conditions, supporting the Assessing Officer's disallowance. Additionally, the tribunal disagreed with the CIT(A) and reinstated the levy of interest under section 215, advising the assessee to seek reduction or waiver from the Assessing Officer if desired. Case-Laws Income Tax Thu, 05 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191365