https://www.taxtmi.com/caselaws?id=70320 The Tribunal ruled against the assessee in a tax dispute case. The first issue involved the deletion of an addition claimed as a deduction for a disputed liability with M/s. MFL. The Tribunal held that the liability arises only upon settlement of the dispute, overturning the decision of the Commissioner of Income-tax (Appeals). The second issue concerned the computation of deduction under section 80-IB, with the Tribunal determining that the deduction must be calculated after setting off the loss from the previous year. The Tribunal disagreed with the Commissioner of Income-tax (Appeals) and remitted the issue back for reconsideration by the Assessing Officer. en-us Thu, 26 Mar 2009 00:00:00 +0530 Fri, 03 Jun 2016 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70320 The Tribunal ruled against the assessee in a tax dispute case. The first issue involved the deletion of an addition claimed as a deduction for a disputed liability with M/s. MFL. The Tribunal held that the liability arises only upon settlement of the dispute, overturning the decision of the Commissioner of Income-tax (Appeals). The second issue concerned the computation of deduction under section 80-IB, with the Tribunal determining that the deduction must be calculated after setting off the loss from the previous year. The Tribunal disagreed with the Commissioner of Income-tax (Appeals) and remitted the issue back for reconsideration by the Assessing Officer. Case-Laws Income Tax Thu, 26 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70320