https://www.taxtmi.com/caselaws?id=336296 The Tribunal upheld the CIT (A)'s decision to allow the provision for development expenses amounting to Rs. 43,23,423/- as a deductible expense, emphasizing that it was an ascertained liability necessary for the business. The Tribunal also affirmed the disallowance of Rs. 3,804/- for interest on TDS, dismissing the revenue's appeal. The decision was based on the provision being an accrued liability at the time of sale of plots, aligning with accounting principles. en-us Tue, 27 Sep 2016 00:00:00 +0530 Mon, 19 Dec 2016 13:30:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336296 The Tribunal upheld the CIT (A)'s decision to allow the provision for development expenses amounting to Rs. 43,23,423/- as a deductible expense, emphasizing that it was an ascertained liability necessary for the business. The Tribunal also affirmed the disallowance of Rs. 3,804/- for interest on TDS, dismissing the revenue's appeal. The decision was based on the provision being an accrued liability at the time of sale of plots, aligning with accounting principles. Case-Laws Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336296