https://www.taxtmi.com/caselaws?id=30826 The High Court upheld the Tribunal's decision, dismissing the appeal as no substantial question of law arose. The dispute involved the disallowance of a provision for salaries and wages for the assessment year 1998-1999, with the court determining that the liability did not accrue during the relevant financial year. Additionally, the court found that the liability for wage revision had not accrued during the financial year 1997-1998 based on the decision-making process and meeting minutes. The court also ruled that Accounting Standard 4 was not applicable in the case, emphasizing the timing of events in relation to the balance sheet date. en-us Fri, 19 Sep 2008 00:00:00 +0530 Sat, 27 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30826 The High Court upheld the Tribunal's decision, dismissing the appeal as no substantial question of law arose. The dispute involved the disallowance of a provision for salaries and wages for the assessment year 1998-1999, with the court determining that the liability did not accrue during the relevant financial year. Additionally, the court found that the liability for wage revision had not accrued during the financial year 1997-1998 based on the decision-making process and meeting minutes. The court also ruled that Accounting Standard 4 was not applicable in the case, emphasizing the timing of events in relation to the balance sheet date. Case-Laws Income Tax Fri, 19 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30826