https://www.taxtmi.com/caselaws?id=24773 A contingent liability for leave with wages was deductible only to the extent of its properly discounted value, not in the full amount claimed. The Tribunal was also held not to reject an additional plea merely because it had not been raised before the lower authorities; it had to record reasons for refusing it, and an omission would justify rejection only if wilful or intentional. On that basis, the deduction claim was sent back to the Tribunal for fresh decision after considering the assessee's additional plea. en-us Wed, 11 May 1988 00:00:00 +0530 Fri, 22 Jan 2010 12:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24773 A contingent liability for leave with wages was deductible only to the extent of its properly discounted value, not in the full amount claimed. The Tribunal was also held not to reject an additional plea merely because it had not been raised before the lower authorities; it had to record reasons for refusing it, and an omission would justify rejection only if wilful or intentional. On that basis, the deduction claim was sent back to the Tribunal for fresh decision after considering the assessee's additional plea. Case-Laws Income Tax Wed, 11 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24773