https://www.taxtmi.com/caselaws?id=14551 The High Court held that the provision for retrenchment compensation and gratuity made by the assessee did not represent an accrued liability for the assessment year 1972-73. As the liability was contingent and not ascertainable in praesenti during the relevant year, the deduction claim was disallowed, affirming the Tribunal's decision in favor of the Revenue. en-us Mon, 23 Oct 2000 00:00:00 +0530 Fri, 17 Jul 2009 11:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14551 The High Court held that the provision for retrenchment compensation and gratuity made by the assessee did not represent an accrued liability for the assessment year 1972-73. As the liability was contingent and not ascertainable in praesenti during the relevant year, the deduction claim was disallowed, affirming the Tribunal's decision in favor of the Revenue. Case-Laws Income Tax Mon, 23 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14551