https://www.taxtmi.com/caselaws?id=444687 Additional evidence for the section 80IA claim relating to other income may require fresh examination where it was not considered by the lower authorities and the Revenue had no opportunity to respond. A debenture redemption reserve created during the year is treated as an appropriation out of profits, not an ascertained liability, and is to be added back while computing book profit under section 115JB unless a specific statutory exclusion applies. Where material shows that a liability has in substance ceased, an addition under section 41 may be sustained even if the amount continues to appear as sundry creditors in the books. en-us Mon, 17 Jul 2023 00:00:00 +0530 Thu, 19 Oct 2023 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444687 Additional evidence for the section 80IA claim relating to other income may require fresh examination where it was not considered by the lower authorities and the Revenue had no opportunity to respond. A debenture redemption reserve created during the year is treated as an appropriation out of profits, not an ascertained liability, and is to be added back while computing book profit under section 115JB unless a specific statutory exclusion applies. Where material shows that a liability has in substance ceased, an addition under section 41 may be sustained even if the amount continues to appear as sundry creditors in the books. Case-Laws Income Tax Mon, 17 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444687