https://www.taxtmi.com/caselaws?id=292522 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) regarding the provisions for gratuity and bonus in the MAT assessment for the assessment year 2004-05. The Tribunal found that the provisions made by the assessee were against ascertained liabilities, specifically noting that the provision for bonus was not an unascertained liability as the assessee was obligated to pay it to employees. The Tribunal emphasized that while the exact quantum of the liability may not be ascertainable, the liability itself is not unascertained. Consequently, the appeal filed by the Revenue was dismissed. en-us Thu, 14 Jul 2011 00:00:00 +0530 Tue, 29 Dec 2020 12:38:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292522 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) regarding the provisions for gratuity and bonus in the MAT assessment for the assessment year 2004-05. The Tribunal found that the provisions made by the assessee were against ascertained liabilities, specifically noting that the provision for bonus was not an unascertained liability as the assessee was obligated to pay it to employees. The Tribunal emphasized that while the exact quantum of the liability may not be ascertainable, the liability itself is not unascertained. Consequently, the appeal filed by the Revenue was dismissed. Case-Laws Income Tax Thu, 14 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292522