https://www.taxtmi.com/caselaws?id=191910 Deduction under section 10(2)(xv) of the Indian Income-tax Act, 1922 was confined to expenditure actually incurred or to a liability that had already accrued. A provision for anticipated holiday wages under section 79 of the Factories Act, 1948 was contingent because the obligation depended on employees actually taking leave or related events, so it was not deductible. Anticipated retrenchment compensation under section 25F of the Industrial Disputes Act, 1947 was also contingent, as liability arose only on retrenchment and fulfilment of statutory conditions. The claimed deductions were therefore disallowed. en-us Mon, 25 Apr 1966 00:00:00 +0530 Tue, 02 May 2017 15:39:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191910 Deduction under section 10(2)(xv) of the Indian Income-tax Act, 1922 was confined to expenditure actually incurred or to a liability that had already accrued. A provision for anticipated holiday wages under section 79 of the Factories Act, 1948 was contingent because the obligation depended on employees actually taking leave or related events, so it was not deductible. Anticipated retrenchment compensation under section 25F of the Industrial Disputes Act, 1947 was also contingent, as liability arose only on retrenchment and fulfilment of statutory conditions. The claimed deductions were therefore disallowed. Case-Laws Income Tax Mon, 25 Apr 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191910