https://www.taxtmi.com/caselaws?id=10943 The High Court of CALCUTTA dismissed the appeal challenging notices under section 154 of the Income-tax Act for rectifying summary assessments made under section 143(1)(a) for various assessment years, including a claim for deduction related to the contingency reserve fund. The court upheld the disallowance of the appropriation to the contingency reserve in regular assessments for specific years and ruled that it was not allowable as a deduction for the assessment year 1995-96. Parties were granted the option to pursue further remedies through an appeal. en-us Thu, 08 Jan 2004 00:00:00 +0530 Tue, 28 Jul 2009 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10943 The High Court of CALCUTTA dismissed the appeal challenging notices under section 154 of the Income-tax Act for rectifying summary assessments made under section 143(1)(a) for various assessment years, including a claim for deduction related to the contingency reserve fund. The court upheld the disallowance of the appropriation to the contingency reserve in regular assessments for specific years and ruled that it was not allowable as a deduction for the assessment year 1995-96. Parties were granted the option to pursue further remedies through an appeal. Case-Laws Income Tax Thu, 08 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10943