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Income Tax - Highlights / Catch Notes

Home Highlights September 2016 Year 2016 This

Provision for transit breakages - The provision would, in the ...


Transit Breakages Are Contingent Liabilities, Not Recognized Under AS 29 Guidelines.

September 5, 2016

Case Laws     Income Tax     SC

Provision for transit breakages - The provision would, in the circumstances, be a provision for a contingent liability and, therefore, in terms of the AS 29 ought not be recognised. - SC

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