Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Unpaid bonus provisions are disallowable in the year of claim where payment conditions are not met, but the same income cannot be taxed again when an excess provision is reversed and offered in a later year; any resulting double taxation must be avoided through verification and reduction. Provisions made by a co-operative bank against standard assets were treated as deductible, resulting in deletion of the related disallowances. A separate disallowance of income-tax provision was deleted because the amount had already been added back, preventing double addition. Ex gratia employee incentives were treated as salary or incentive payments allowable in the year of payment. Carry-forward depreciation was directed to be recomputed.
Unpaid bonus provisions are disallowable in the year of claim where payment conditions are not met, but the same income cannot be taxed again when an excess provision is reversed and offered in a later year; any resulting double taxation must be avoided through verification and reduction. Provisions made by a co-operative bank against standard assets were treated as deductible, resulting in deletion of the related disallowances. A separate disallowance of income-tax provision was deleted because the amount had already been added back, preventing double addition. Ex gratia employee incentives were treated as salary or incentive payments allowable in the year of payment. Carry-forward depreciation was directed to be recomputed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
