Monday, February 11, 2019

HC slam AO for rejecting claim for deduction of provision by treating it as contingent liability

IT : Where assessee's claim for deduction of provision made for project expenses in respect of work carried out by contractor was rejected on ground that it was a contingent liability, in view of fact that assessee had made provision in respect of work already done by contractor on basis of contract/prevalent rates, impugned order rejecting assessee's claim was to be set aside

from www.taxmann.com Latest Case Laws http://bit.ly/2E33eOC

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...