Provision for post- retirement medical benefits, future encashment leave and long service award based on actuarial valuation is allowable. (AY .2004-05, 2008-09, 2011-12)
Rashtriya Ispat Nigam Ltd. v. Jt. CIT (OSD) (2018) 62 ITR 696 (Visakha)(Trib.)
S. 37(1) : Business expenditure – Accrued or contingent liability – provision for post- retirement medical benefits, future encashment leave and long service award based on actuarial valuation is allowable.