https://www.taxtmi.com/caselaws?id=38043 The High Court of Karnataka ruled on the admissibility of a deduction for gratuity liability actuarially ascertained for services rendered in previous years. The Court held that expenses claimed as a deduction must be incurred in the relevant accounting year, rejecting the aggregation of liabilities from earlier years. It emphasized the need to match expenses with the appropriate accounting period and upheld the Tribunal's decision that liabilities or expenditures should be claimed in the year they are incurred, not deferred to a later year. en-us Tue, 30 May 1978 00:00:00 +0530 Fri, 02 Apr 2010 17:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38043 The High Court of Karnataka ruled on the admissibility of a deduction for gratuity liability actuarially ascertained for services rendered in previous years. The Court held that expenses claimed as a deduction must be incurred in the relevant accounting year, rejecting the aggregation of liabilities from earlier years. It emphasized the need to match expenses with the appropriate accounting period and upheld the Tribunal's decision that liabilities or expenditures should be claimed in the year they are incurred, not deferred to a later year. Case-Laws Income Tax Tue, 30 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38043