Judgement holding S.43B(f) (leave encashment) as unconstitutional stayed

S. 43B (f) was inserted by the Finance Act, 2001 w.e.f. 1.4.2002 to provide that any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee shall be allowed as a deduction only in the year of actual payment.

The said amendment was enacted to supersede the judgement of the Supreme Court in Please become a Premium member. If you are already a Premium member, login here to access the full content.