Expenditure inclusion expanded to cover provisions debited to profit and loss account, altering tax deduction scope retroactively. Amendment substitutes clause (a) of rule 5 in the First Schedule to include any expenditure or allowance including any amount debited to the profit and loss account by way of a provision for any tax dividend, reserve or any other provision as may be prescribed, and is deemed to have effect retroactively from the earlier fiscal commencement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Expenditure inclusion expanded to cover provisions debited to profit and loss account, altering tax deduction scope retroactively.
Amendment substitutes clause (a) of rule 5 in the First Schedule to include any expenditure or allowance including any amount debited to the profit and loss account by way of a provision for any tax dividend, reserve or any other provision as may be prescribed, and is deemed to have effect retroactively from the earlier fiscal commencement date.
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