Provision for Expenses Disallowed Due to Lack of Evidence and Unascertained Liability in Relevant Assessment Year.

Provision for Expenses Disallowed Due to Lack of Evidence and Unascertained Liability in Relevant Assessment Year. https://www.taxtmi.com/highlights?id=74279 Disallowance of provision for expenses - Since, assessee could not file any evidence and also basis for quantifying amount of provision made for expenses, in our considered view said provision can only be treated as unascertained liability, which is not crystallized during the impugned assessment year. - AT en-us Fri, 19 Jan 2024 08:48:56 +0530 Fri, 19 Jan 2024 08:48:56 +0530 TaxTMI RSS Generator Provision for Expenses Disallowed Due to Lack of Evidence and Unascertained Liability in Relevant Assessment Year. https://www.taxtmi.com/highlights?id=74279 Disallowance of provision for expenses - Since, assessee could not file any evidence and also basis for quantifying amount of provision made for expenses, in our considered view said provision can only be treated as unascertained liability, which is not crystallized during the impugned assessment year. - AT Highlights Income Tax Fri, 19 Jan 2024 08:48:56 +0530 https://www.taxtmi.com/highlights?id=74279