Disallowance of provisions for 'take or pay rental' charges - ...

Income Tax

November 18, 2013

Disallowance of provisions for 'take or pay rental' charges - ascertained liability or not - the liability to pay in respect of shortfall in quantity will crystallize only after the lapse of five years and till then, even if this amount is paid, it is in the nature of advance payment only and not an expenditure incurred. - AT

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Disallowance of provisions for 'take or pay rental' charges - ...

Income Tax

November 18, 2013

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