Taxpayer's Future Expenses Allowed u/s 37(1) Due to Detailed Documentation; Assessing Officer's Rejection Improper.

Provision made for future expenses - Allowablity u/s 37(1) - complete details filed by the assessee to show that the expenditure in question was not contingent liability and on reference to these documents shows that projected future expenses as claimed by the assessee was reasonable - it was not proper on the part of the AO to have ignored these documents - allowable expenses .....

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