https://www.taxtmi.com/caselaws?id=399105 The Tribunal upheld the decision to disallow a provision for professional costs amounting to INR 94,97,000, emphasizing the lack of consistent accounting principles and the contingent nature of the liability. The appeal by the assessee was dismissed, with the Tribunal agreeing with the Commissioner of Income-tax (Appeals) and the Assessing Officer that the provision was not based on a fully ascertained liability and did not follow consistent accounting principles. en-us Tue, 29 Sep 2020 00:00:00 +0530 Sat, 03 Oct 2020 15:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399105 The Tribunal upheld the decision to disallow a provision for professional costs amounting to INR 94,97,000, emphasizing the lack of consistent accounting principles and the contingent nature of the liability. The appeal by the assessee was dismissed, with the Tribunal agreeing with the Commissioner of Income-tax (Appeals) and the Assessing Officer that the provision was not based on a fully ascertained liability and did not follow consistent accounting principles. Case-Laws Income Tax Tue, 29 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399105