Tax Authorities Challenge Bank's Fraud Provision, Initially Disallowing Partial Expense Before Allowing Full Claim.

Tax Authorities Challenge Bank's Fraud Provision, Initially Disallowing Partial Expense Before Allowing Full Claim. https://www.taxtmi.com/highlights?id=68833 Disallowance of provision for fraud - AO and CIT(A) doubting the type of expenditure has observed that out of total expenditure for the year 1/5th is to be disallowed - this is a regular feature of the assessee bank to make provision for fraud and the actual expenditure incurred are cleared from the balance appearing in the account of provision for fraud - full claim allowed - AT en-us Tue, 21 Mar 2023 08:15:36 +0530 Tue, 21 Mar 2023 08:15:36 +0530 TaxTMI RSS Generator Tax Authorities Challenge Bank's Fraud Provision, Initially Disallowing Partial Expense Before Allowing Full Claim. https://www.taxtmi.com/highlights?id=68833 Disallowance of provision for fraud - AO and CIT(A) doubting the type of expenditure has observed that out of total expenditure for the year 1/5th is to be disallowed - this is a regular feature of the assessee bank to make provision for fraud and the actual expenditure incurred are cleared from the balance appearing in the account of provision for fraud - full claim allowed - AT Highlights Income Tax Tue, 21 Mar 2023 08:15:36 +0530 https://www.taxtmi.com/highlights?id=68833