TP Adjustment - Extraordinary one-time cost due to change in ...

Actuarial Valuation Change Causes TP Adjustment; Full Gratuity Provision Claimed as Deduction, Not Non-Operating Cost.

May 23, 2022

Case Laws Income Tax AT

TP Adjustment - Extraordinary one-time cost due to change in assumption for actuarial valuation - Since the actuary determined the amount of the provision to be created at the end of the year, the same became an operating cost without any need for reduction. We, therefore, do not find any force in the submission of the ld. AR that a part of the provision for approved gratuity etc. should be treated as non-operating when the full amount of such provision has been claimed as deduction for the year only. - AT

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TP Adjustment - Extraordinary one-time cost due to change in ...

Actuarial Valuation Change Causes TP Adjustment; Full Gratuity Provision Claimed as Deduction, Not Non-Operating Cost.

May 23, 2022

Case Laws Income Tax AT

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