Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
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 provision made by the assessee (for HD commission, ex gratia and bonus, gratuity to HD canvassers, and gratuity), analyzing whether they constituted ascertained or contingent liabilities. It referenced judicial precedents to allow the assessee's claims, emphasizing the principle that provisions based on actuarial valuations are considered ascertained liabilities.
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 provision made by the assessee (for HD commission, ex gratia and bonus, gratuity to HD canvassers, and gratuity), analyzing whether they constituted ascertained or contingent liabilities. It referenced judicial precedents to allow the assessee's claims, emphasizing the principle that provisions based on actuarial valuations are considered ascertained liabilities.
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