https://www.taxtmi.com/caselaws?id=8922 The High Court allowed the deduction of Rs. 19,11,620 for the employees' gratuity liability from the valuation of equity shares. The court held that the liability was definite, ascertained, and present, not contingent, despite the option to pay in instalments. The court awarded costs to the respondents and clarified the nature of the liability as a definite and present obligation. en-us Fri, 04 May 1973 00:00:00 +0530 Wed, 17 Jun 2009 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8922 The High Court allowed the deduction of Rs. 19,11,620 for the employees' gratuity liability from the valuation of equity shares. The court held that the liability was definite, ascertained, and present, not contingent, despite the option to pay in instalments. The court awarded costs to the respondents and clarified the nature of the liability as a definite and present obligation. Case-Laws Wealth-tax Fri, 04 May 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8922