https://www.taxtmi.com/caselaws?id=191829 Contingent retirement-benefit liabilities may be relevant in annual income-tax profit computation, but only where the obligation can be fairly and reliably valued as part of the year's true profit. A provision cannot be allowed merely because the liability arises from services already rendered or because it is treated as deferred remuneration; the deduction must reflect the real burden of the year. A face-value appropriation, without proper discounting or satisfactory valuation evidence, was too rough to support the claimed deduction, so the provision was disallowed. en-us Thu, 21 Jun 1956 00:00:00 +0530 Tue, 25 Apr 2017 18:32:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191829 Contingent retirement-benefit liabilities may be relevant in annual income-tax profit computation, but only where the obligation can be fairly and reliably valued as part of the year's true profit. A provision cannot be allowed merely because the liability arises from services already rendered or because it is treated as deferred remuneration; the deduction must reflect the real burden of the year. A face-value appropriation, without proper discounting or satisfactory valuation evidence, was too rough to support the claimed deduction, so the provision was disallowed. Case-Laws Income Tax Thu, 21 Jun 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191829