Supreme Court · 2000 INSC 385 · Decided 9 August 2000
Bharat Earth Movers v. Commissioner of Income Tax, Karnataka
- Court
- Supreme Court of India
- Citation
- 2000 INSC 385 · [2000] SUPP. 2 S.C.R. 295
- Case number
- CIVIL APPEAL No. 9271/1995
- Decided
- 9 August 2000
- Bench
- S.P. BHARUCHA, R.C. LAHOTI, N. SANTOSH HEGDE (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 144; Income Tax Act Section 37, 256(1)
Headnote
B Income Tax Act, 1961 : Section 37(/ ). Income Tax-Business liability-Deduction-Detennination of-AY 1978- 79-Comingent liability-Business liability had arisen in an accounting year although the liability had to be quantified and discharged at a future date­ Held: Such a liability is not a which it arose. Income Tax-Mercantile System of accounting-Contingent liability­ Business expenditure-Dedw:tion-AY 1978-79-Assessee-employer created a fund to meet the liability in respect of encashment of earned leave/vacation leave o.f its employees-Held : Such a liability is not a
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)