https://www.taxtmi.com/caselaws?id=350250 The High Court upheld the Tribunal's decision to allow the deduction of Rs. 140 lacs for pay revision of employees, disagreeing with the CIT(A)'s view that such provision was not deductible until an agreement with employees was signed. The Court found the liability crystallized when the pay revision was due and payable, supporting its decision with relevant case law. The appeal was dismissed in favor of the assessee based on the conclusion that the provision for pay revision was allowable as a deduction. en-us Tue, 24 Oct 2017 00:00:00 +0530 Thu, 02 Nov 2017 08:22:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350250 The High Court upheld the Tribunal's decision to allow the deduction of Rs. 140 lacs for pay revision of employees, disagreeing with the CIT(A)'s view that such provision was not deductible until an agreement with employees was signed. The Court found the liability crystallized when the pay revision was due and payable, supporting its decision with relevant case law. The appeal was dismissed in favor of the assessee based on the conclusion that the provision for pay revision was allowable as a deduction. Case-Laws Income Tax Tue, 24 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350250