https://www.taxtmi.com/caselaws?id=400108 The appeal filed by the revenue against the disallowance of a provision for future expenses claimed by the assessee was allowed. The Tribunal noted that the Ld.AO did not verify the agreement with BMRCL and the conditions stipulated therein. The provision made by the assessee was based on scientific estimates and was debited at the end of the year as expenses had been incurred. The issue was remanded to the Ld.AO for further verification, and the revenue's grounds were allowed for statistical purposes. en-us Fri, 09 Oct 2020 00:00:00 +0530 Wed, 28 Oct 2020 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400108 The appeal filed by the revenue against the disallowance of a provision for future expenses claimed by the assessee was allowed. The Tribunal noted that the Ld.AO did not verify the agreement with BMRCL and the conditions stipulated therein. The provision made by the assessee was based on scientific estimates and was debited at the end of the year as expenses had been incurred. The issue was remanded to the Ld.AO for further verification, and the revenue's grounds were allowed for statistical purposes. Case-Laws Income Tax Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400108