https://www.taxtmi.com/caselaws?id=280022 Provision for wage revision was treated as an ascertained liability because employee services had already been rendered and the liability had crystallised, so the deduction was allowed. Depreciation on leased assets and deductions under sections 36(1)(viii) and 36(1)(viia) were followed in line with earlier Tribunal and Supreme Court guidance, supporting the assessee's claims. Foreign branch income and Kenyan house property income were excluded under the applicable treaty framework, as treaty allocation of taxing rights prevailed over domestic notification. The agricultural debt waiver write-off was treated as a business loss arising in the ordinary course of banking business. Section 14A required fresh verification on the factual record, while section 115JB was held not to apply. en-us Wed, 08 Nov 2017 00:00:00 +0530 Wed, 17 Apr 2019 11:06:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280022 Provision for wage revision was treated as an ascertained liability because employee services had already been rendered and the liability had crystallised, so the deduction was allowed. Depreciation on leased assets and deductions under sections 36(1)(viii) and 36(1)(viia) were followed in line with earlier Tribunal and Supreme Court guidance, supporting the assessee's claims. Foreign branch income and Kenyan house property income were excluded under the applicable treaty framework, as treaty allocation of taxing rights prevailed over domestic notification. The agricultural debt waiver write-off was treated as a business loss arising in the ordinary course of banking business. Section 14A required fresh verification on the factual record, while section 115JB was held not to apply. Case-Laws Income Tax Wed, 08 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280022