https://www.taxtmi.com/caselaws?id=405451 A provision for corporate social responsibility expenditure was treated as an unascertained liability for book-profit computation under section 115JB because the earmarked amount was only set aside for future CSR spending and its actual application remained uncertain. The text applies the principle that, under clause (c) of Explanation 1 to section 115JB, only provisions for unascertained liabilities are added back, and a liability is ascertained only when it is certain, clear, and definitely known. On these facts, the CSR provision did not meet that standard and was correctly added back while computing book profit against the assessee. en-us Thu, 18 Mar 2021 00:00:00 +0530 Sat, 20 Mar 2021 08:47:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405451 A provision for corporate social responsibility expenditure was treated as an unascertained liability for book-profit computation under section 115JB because the earmarked amount was only set aside for future CSR spending and its actual application remained uncertain. The text applies the principle that, under clause (c) of Explanation 1 to section 115JB, only provisions for unascertained liabilities are added back, and a liability is ascertained only when it is certain, clear, and definitely known. On these facts, the CSR provision did not meet that standard and was correctly added back while computing book profit against the assessee. Case-Laws Income Tax Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405451