Provision for leave encashment on actuarial basis is allowable as deduction

Aditya Birla Sun Life AMC Limited Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that the provision for leave encashment made on actuarial basis constitutes an ascertained liability and is allowable as deduction. Accordingly, the said ground is allowed.

Facts- The assessee is a resident company engaged in the business of asset management, portfolio management and advisory services. In the course of assessment proceedings, the Assessing Officer examined the allowability of deduction claimed under section 80G in respect of CSR related payments, employees’ contribut

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