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TMI Blog2013 (6) TMI 874X X X X Extracts X X X X X X X X Extracts X X X X ..... 2007-08 to 2009-10 and those appeals have already been heard. Since the orders have been passed in those appeals and the issues are squarely covered by the orders of the Tribunal, we rejected the adjournment application and heard the appeals on ex-parte basis. 3. In these appeals common issues have been raised. 4 First common issue is whether that the ld. CIT(A) erred in holding that provision of leave encashment is ascertained liability and therefore, need not to be added back to the book profits u/s 115 JB of the Act. 5 The ld. DR for the revenue was heard. 6 After considering the submissions of the ld. DR for the revenue and the relevant material on record, we find that the provision for leave ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e would be taken into account while working out the profits and gains of the business; (iii) A condition subsequent the fulfillment of which may result in the reduction or even extinction of the liability, would not have the effect of converting that liability into a contingent liability; (iv) A traded computing his taxable profits for a particular year may properly deduct not only the payments actually made to his employees but also the present value of any payments in respect of their services in that year to be made in a subsequent year if it can be satisfactory estimated. No doubt the above decision was rendered in the context whether such provision was allowable as deduction under normal provisions, h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led before us. However, at the same time the Assessing Officer also rejected the issue summarily without asking for the scheme for incentive claimed from the assessee and the ld. CIT(A) has allowed the relief without examining the scheme. Therefore, in the interest of justice, we set aside the order of the ld. CIT(A) and remand the matter back to the file of Assessing Officer with a direction to re-examine the issue after obtaining the scheme of staff incentive from the assessee. Following the above order, we set aside the order of the ld. CIT(A) and remit this issue back to the file of Assessing Officer with identical directions as contained in the above para. 10. One additional issue has been raised in Assessment ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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