https://www.taxtmi.com/caselaws?id=18013 A statutory liability for holiday wages and leave with wages under the Bidi and Cigar Workers (Conditions of Employment) Act, 1966, was treated as deductible where it had accrued during the relevant accounting year and was properly provided for in mercantile accounts. The dispute turned on accrual, not mere quantification: the liability was not contingent, and actual payment could be deferred without defeating deduction. Applying its earlier decisions, the Madhya Pradesh HC accepted the provision as an ascertained statutory liability and allowed the deduction in computing income, in favour of the assessee and against the Revenue. en-us Fri, 15 Mar 1996 00:00:00 +0530 Sat, 26 Sep 2009 12:14:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18013 A statutory liability for holiday wages and leave with wages under the Bidi and Cigar Workers (Conditions of Employment) Act, 1966, was treated as deductible where it had accrued during the relevant accounting year and was properly provided for in mercantile accounts. The dispute turned on accrual, not mere quantification: the liability was not contingent, and actual payment could be deferred without defeating deduction. Applying its earlier decisions, the Madhya Pradesh HC accepted the provision as an ascertained statutory liability and allowed the deduction in computing income, in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 15 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18013