Computation of book profit u/s. 115JB - A.O. took the view that ...

Case Laws Income Tax

December 31, 2020

Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net profit for the purpose of computing book profit u/s. 115JB - the assessee that the assessee has actually paid the bonus in the succeeding year. Accordingly, we hold that the provision for bonus created by the assessee is an ascertained liability. - A.O. directed to exclude it from book profit. - AT

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Computation of book profit u/s. 115JB - A.O. took the view that ...

Case Laws Income Tax

December 31, 2020

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