https://www.taxtmi.com/caselaws?id=275425 The Court held that the sum transferred to the contingency reserve account is not deductible in arriving at taxable income, emphasizing statutory obligations. Additionally, the Court ruled that accrued pension liability based on actuarial calculations is not admissible as a deduction, highlighting the need for consistency in claiming deductions. The Court affirmed the decisions of the Tribunal and Commissioner, emphasizing that deductions can only be claimed when actual payments are made, ultimately ruling in favor of the revenue in both matters. en-us Fri, 09 Mar 1990 00:00:00 +0530 Wed, 03 Oct 2018 12:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275425 The Court held that the sum transferred to the contingency reserve account is not deductible in arriving at taxable income, emphasizing statutory obligations. Additionally, the Court ruled that accrued pension liability based on actuarial calculations is not admissible as a deduction, highlighting the need for consistency in claiming deductions. The Court affirmed the decisions of the Tribunal and Commissioner, emphasizing that deductions can only be claimed when actual payments are made, ultimately ruling in favor of the revenue in both matters. Case-Laws Income Tax Fri, 09 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275425