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2018 (5) TMI 1899 - AT - Income TaxDeduction u/s.43B - Allowability of Leave encashment - whether said expenditure is in the nature of contingent liability and the actual payment was not made during the respective Assessment Years? - Whether the provision of leave encashment was created based on actuarial valuation as per report obtained from consulting Actuary and that provision of Leave encashment was created in the books in line with AS-15 of employees benefits prescribed by ICAI - HELD THAT:- AO/assessee shall follow the directions issued by the Hon’ble Supreme Court in the case of M/s.Exide Industries Ltd. & Anr. Vs. Union of India & Ors. [2009 (5) TMI 894 - SC ORDER] . When the question of law in the case of M/s.Exide Industries Ltd. & Anr. Vs. Union of India & Ors. becomes final, the AO shall amend the impugned orders conformably to such decisions as per Sec.158A of the Income Tax Act, 1961. - Appeals filed by the assessee are treated as partly allowed for statistical purposes.
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