https://www.taxtmi.com/highlights?id=56138 Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net profit for the purpose of computing book profit u/s. 115JB - the assessee that the assessee has actually paid the bonus in the succeeding year. Accordingly, we hold that the provision for bonus created by the assessee is an ascertained liability. - A.O. directed to exclude it from book profit. - AT en-us Thu, 31 Dec 2020 14:33:21 +0530 Thu, 31 Dec 2020 14:33:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56138 Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net profit for the purpose of computing book profit u/s. 115JB - the assessee that the assessee has actually paid the bonus in the succeeding year. Accordingly, we hold that the provision for bonus created by the assessee is an ascertained liability. - A.O. directed to exclude it from book profit. - AT Highlights Income Tax Thu, 31 Dec 2020 14:33:21 +0530 https://www.taxtmi.com/highlights?id=56138