TMI BlogConstitutional validity of clause (f) of Section 43B - The liability of leave encashment continues to be...Constitutional validity of clause (f) of Section 43B - The liability of leave encashment continues to be a present liability as per the mercantile system of accounting. Further, the insertion of clause (f) has not extinguished the autonomy of the assessee to follow the mercantile system. It merely defers the benefit of deduction to be availed by the assessee for the purpose of computing his taxable income and links it to the date of actual payment thereof to the employee concerned. Thus, the onl..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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