https://www.taxtmi.com/caselaws?id=753492 The Tribunal partially allowed the appeal. It directed the Assessing Officer to permit the deduction for leave encashment on an actual payment basis, in accordance with Section 43B(f) of the Income Tax Act. Additionally, it held that the excise duty subsidy received by the assessee was capital in nature and therefore not taxable, following precedents set by a coordinate Bench and the Jurisdictional High Court. The Tribunal admitted the additional ground concerning the subsidy for adjudication, ultimately ruling in favor of the assessee on this issue. en-us Fri, 31 May 2024 00:00:00 +0530 Mon, 03 Jun 2024 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753492 The Tribunal partially allowed the appeal. It directed the Assessing Officer to permit the deduction for leave encashment on an actual payment basis, in accordance with Section 43B(f) of the Income Tax Act. Additionally, it held that the excise duty subsidy received by the assessee was capital in nature and therefore not taxable, following precedents set by a coordinate Bench and the Jurisdictional High Court. The Tribunal admitted the additional ground concerning the subsidy for adjudication, ultimately ruling in favor of the assessee on this issue. Case-Laws Income Tax Fri, 31 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753492