https://www.taxtmi.com/caselaws?id=417413 The Tribunal upheld the lower authorities' decision to disallow the provision for losses claimed by the company, emphasizing the lack of scientific basis or evidence for the provision. The Tribunal highlighted the need for actual and verifiable losses, dismissing the appeal and emphasizing that projected or contingent losses cannot be considered legitimate business expenditures. en-us Wed, 22 Dec 2021 00:00:00 +0530 Sat, 22 Jan 2022 08:48:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417413 The Tribunal upheld the lower authorities' decision to disallow the provision for losses claimed by the company, emphasizing the lack of scientific basis or evidence for the provision. The Tribunal highlighted the need for actual and verifiable losses, dismissing the appeal and emphasizing that projected or contingent losses cannot be considered legitimate business expenditures. Case-Laws Income Tax Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417413