https://www.taxtmi.com/news?id=589 A provision for doubtful debts that reflects probable diminution in the value of receivable assets is not a provision made to meet a liability and therefore does not fall within the Explanation's item permitting add back to book profit; the item requires (1) an amount set aside as a provision, (2) that the provision is for meeting a liability, and (3) that the liability is other than ascertained, so all three ingredients must be satisfied before an add back can be made. en-us Wed, 24 Sep 2008 22:12:05 +0530 Thu, 25 Sep 2008 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=589 A provision for doubtful debts that reflects probable diminution in the value of receivable assets is not a provision made to meet a liability and therefore does not fall within the Explanation's item permitting add back to book profit; the item requires (1) an amount set aside as a provision, (2) that the provision is for meeting a liability, and (3) that the liability is other than ascertained, so all three ingredients must be satisfied before an add back can be made. News - Wed, 24 Sep 2008 22:12:05 +0530 https://www.taxtmi.com/news?id=589