Disallowance of provisions of interest as the provisions ...

Income Tax

May 6, 2016

Disallowance of provisions of interest as the provisions amounted to unascertained liability - there is no estoppel against the Statute and the Act enables and entitles the assessee to claim the entire expenditure in the manner it is claimed. Thus the assessee would be entitled to deduction of the entire expenditure respectively in the year in which the amount was actually paid - SC

View Source

← Previous Next →

Disallowance of provisions of interest as the provisions ...

Income Tax

May 6, 2016

You may also like:

Disallowance of claim of Provision for expenses - unascertained liability or not - By belated receipt of bills, the payment only gets postponed, but not the liability...

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

Disallowance on account of provision for expenses made under normal provisions of the Act as well as in the computation of book profits u/s.115JB - The assessee company...

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

The value of closing stock written off cannot be treated as unascertained liability. - AT

Disallowance of provision for expenses - Since, assessee could not file any evidence and also basis for quantifying amount of provision made for expenses, in our...

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...

Disallowance of wage arrears u/s 40a(ia) - contingent liability or not - non deduction of TDS - assessee created an adhoc provision for wage arrears - Liability has been...

Claim of interest on delayed refund - excess paid Swachh Bharat Cess and Krishi Kalyan Cess - there cannot be any estoppel against a statute. Once the statute provides...

Doctrine of promissory estoppel could operate against a statute or not? - benefits granted under an earlier statute, - Even on the ground of change of policy, which is...

Quick Updates: