Liability to pay ‘sales incentive’ crystalizes on achieving sales target; provision deductible under Sec. 37(1): HC

INCOME TAX : Provision for foreign travel expenses payable, as per binding contract, in respect of dealers/distributors who have achieved sales targets as of 31st March, is not a contingent liability and is deductible u/s 37(1)

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000318264/liability-to-pay-‘sales-incentive’-crystalizes-on-achieving-sales-target-provision-deductible-under-sec-371-hc.aspx