Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Unascertained liability cannot be excluded in the provision of ...


High Court Rules Unascertained Liability Must Be Included in Book Profit u/s 115JB for Accurate Tax Calculation.

April 20, 2016

Case Laws     Income Tax     HC

Unascertained liability cannot be excluded in the provision of gratuity for the computation of book profit under section 115JB - HC

View Source

 


 

You may also like:

  1. MAT u/s 115JB - adjustments to Book profit - wealth tax liability does not come within the purview of Explanation–1(a) to section 115JB(2) - Wealth tax payable is...

  2. Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book...

  3. MAT - Book adjustment u/s 115JB - marked–to–market loss on stock in trade cannot be considered as unascertained liability Explanation 1(c) to section 115JB makes it...

  4. Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed...

  5. MAT - Disallowance to computation of book profit u/s 115JB - Disallowance of leave encashment as unascertained liability - as the provision for leave encashment has been...

  6. Computation of MAT u/s 115JB - Addition towards delayed payment of gratuity and leave encashment - in computation of book profit only provision for unascertained...

  7. MAT computation - exclusion of income of SEZ unit while computing Book Profit u/s 115JB - book profit computed under section 115JB will not include income of SEZ Unit - AT

  8. Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

  9. MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

  10. MAT - AO add back the Income-tax paid in Spain while computing book profit u/s. 115JB - only taxes specified in Explanation 2 can be added back while computing book...

  11. Addition towards provision for premium on redemption of debentures to book profit u/s 115JB - adjustments to book profit - provision created for premium payable on...

  12. MAT - Computation of book profit u/s. 115JB - lease rent equalization charge cannot be said to be an unascertained liability - AT

  13. The ITAT considered a rectification order u/s 154 regarding MAT computation u/s 115JB on profit from the sale of agricultural land exempt from income tax. The Assessing...

  14. MAT computation u/s 115JB - Adjustment for computation of book profits u/s. 115JB on the ground that expenses are unascertained liability. - The Tribunal addressed each...

  15. MAT - Calculation of book profit u/s 115JB - A.O seems to have acted beyond the provisions laid down in Section 115JB and has made the adjustment to the book profits...

 

Quick Updates:Latest Updates