https://www.taxtmi.com/caselaws?id=401432 The Court held that the provision for future expenditure or compensation, without actual payment or write-off, could not be claimed as a deduction under Sections 36 or 37 of the Act. The Assessee's appeal was dismissed, with the Court ruling that the provision made in the books was insufficient to allow for a deduction as business expenditure. The Court emphasized the necessity of either payment or write-off to claim such amounts, which had not been done in this case. The judgment cited by the Assessee was deemed irrelevant, and the decision favored the Revenue, with no costs awarded. en-us Fri, 04 Dec 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401432 The Court held that the provision for future expenditure or compensation, without actual payment or write-off, could not be claimed as a deduction under Sections 36 or 37 of the Act. The Assessee's appeal was dismissed, with the Court ruling that the provision made in the books was insufficient to allow for a deduction as business expenditure. The Court emphasized the necessity of either payment or write-off to claim such amounts, which had not been done in this case. The judgment cited by the Assessee was deemed irrelevant, and the decision favored the Revenue, with no costs awarded. Case-Laws Income Tax Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401432