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Income Tax - Highlights / Catch Notes

Home Highlights September 2014 Year 2014 This

Ascertainment of liability towards leave encashment – Even ...

Income Tax

September 1, 2014

Ascertainment of liability towards leave encashment – Even though they may not be in a position to give the accurate details, but that does not allow the assessee to claim a figure in an arbitrary manner without there being any supportive material - HC

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  1. Premium towards leave encashment - provision for leave encashment was held to be allowable if the same was based on a particular scheme proportionately with the...

  2. Provision for leave salary encashment and gratuity was made by the assessee on the basis of actuarial valuation done by actuary and these are considered as ascertained...

  3. Leave encashment - whether not an ascertained liability and thus liable to be added to the “book profit” under explanation 1 to Section 115 JB - MAT - Held no - HC

  4. Computation of MAT u/s 115JB - Addition towards delayed payment of gratuity and leave encashment - in computation of book profit only provision for unascertained...

  5. MAT - Disallowance to computation of book profit u/s 115JB - Disallowance of leave encashment as unascertained liability - as the provision for leave encashment has been...

  6. Disallowing entire claim for leave encashment and post retirement medical benefit - the Assessee’s treatment of the liability in respect of the post retirement medical...

  7. Exemption limited increased to Rs. 25,00,000 against Leave encashment by the employees other than an employee of the Government - Income Tax Notification

  8. Disallowance of the provisions made for leave encashment - Post 01.04.2001, deduction of any sum on account of payment towards employees leave encashment would be...

  9. TDS u/s 192 - exemption towards leave encashment - There is no reason for them to think that its estimate of employee’s income under the head “Salaries” was incorrect as...

  10. Leave encashment expenditure - the appellant did not raise any such plea before the Tribunal. In any event, even if such a plea were to be raised, there is little that...

 

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