https://www.taxtmi.com/caselaws?id=219046 Deduction for bad-debt provisions under section 36(1)(viia) is determined by the opening credit balance brought forward at the start of the accounting year, rather than the year-end closing balance. Treaty non-discrimination under the India-US DTAA may prevent disallowance of payments to foreign card-network entities for non-deduction of tax at source where the applicable coordinate-bench view governs. Losses on unmatured forward exchange contracts require examination of whether liability had crystallised under consistently applied accounting treatment, rather than automatic treatment as contingent. Guest-house expenditure restrictions no longer operating for the relevant year, section 44C disallowance, and VRS expenditure classification are addressed through prior-year precedent; VRS expenditure is treated as revenue expenditure. en-us Fri, 20 Jan 2012 00:00:00 +0530 Tue, 04 Dec 2012 00:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219046 Deduction for bad-debt provisions under section 36(1)(viia) is determined by the opening credit balance brought forward at the start of the accounting year, rather than the year-end closing balance. Treaty non-discrimination under the India-US DTAA may prevent disallowance of payments to foreign card-network entities for non-deduction of tax at source where the applicable coordinate-bench view governs. Losses on unmatured forward exchange contracts require examination of whether liability had crystallised under consistently applied accounting treatment, rather than automatic treatment as contingent. Guest-house expenditure restrictions no longer operating for the relevant year, section 44C disallowance, and VRS expenditure classification are addressed through prior-year precedent; VRS expenditure is treated as revenue expenditure. Case-Laws Income Tax Fri, 20 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219046