The appeals are disposed off in the above
Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO
5 similarly be taken into account as trading receipts where it is necessary to do so in order to ascertain the true profits.” In Bharat Earth Movers (supra) (decided by the Supreme Court), the question which the Court had to consider was whether the provision for meeting earned-leave-encashment by the employee was an admissible deduction in the hands