https://www.taxtmi.com/caselaws?id=400820 The appeal was dismissed by the court, affirming the ITAT's decision. The court emphasized that deductions for leave encashment under Sec. 43B(f) of the IT Act are permissible only upon actual payment, aligning with precedents set by the SC in Exide Industries Ltd. and Dhanalakshmi Bank Ltd. The court consistently upheld the necessity of actual payment for claiming such deductions, rejecting actuarial valuations as insufficient for eligibility. The Substantial Questions of Law were resolved against the assessee, reinforcing the legal requirement for actual payment in claiming deductions for leave encashment. en-us Tue, 13 Oct 2020 00:00:00 +0530 Mon, 04 Nov 2024 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400820 The appeal was dismissed by the court, affirming the ITAT's decision. The court emphasized that deductions for leave encashment under Sec. 43B(f) of the IT Act are permissible only upon actual payment, aligning with precedents set by the SC in Exide Industries Ltd. and Dhanalakshmi Bank Ltd. The court consistently upheld the necessity of actual payment for claiming such deductions, rejecting actuarial valuations as insufficient for eligibility. The Substantial Questions of Law were resolved against the assessee, reinforcing the legal requirement for actual payment in claiming deductions for leave encashment. Case-Laws Income Tax Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400820