Continuation of Section 73 service-tax proceedings after provider's death (construing s.65(7)) - held to abate; posthumous OIO and recoveries invalida...
Change of corporate management after approved resolution plan - writ maintainable; property attachment not 'transfer' under PBPT; Section 32A protecti...
Provision for a society Cadre Fund was held deductible as business expenditure under section 37 because it constituted a present obligation under AS 29, with probable outflow and reliable estimation, and therefore was not a contingent liability. Applying Bharat Earth Movers, the Tribunal held that a business liability once incurred and reasonably estimable remains deductible even if discharged later. The Tribunal also relied on consistent accounting treatment, prior departmental acceptance, and coordinate-bench precedents on identical facts, and found the disallowance unsustainable. The addition was directed to be deleted.
Provision for a society Cadre Fund was held deductible as business expenditure under section 37 because it constituted a present obligation under AS 29, with probable outflow and reliable estimation, and therefore was not a contingent liability. Applying Bharat Earth Movers, the Tribunal held that a business liability once incurred and reasonably estimable remains deductible even if discharged later. The Tribunal also relied on consistent accounting treatment, prior departmental acceptance, and coordinate-bench precedents on identical facts, and found the disallowance unsustainable. The addition was directed to be deleted.
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