Corporate TaxArticle·25 July 2026
No double taxation of write back
By J the App
Executive Summary
The ITAT held that where a provision for standard assets had not been claimed as a deduction when originally created, its subsequent write-back cannot be taxed again.
Finding that complete financial records were not available, the Tribunal restored the issue to the Assessing Officer for factual verification.
Domain | Corporate Tax | Direct Tax
Background
The assessee, a foreign...
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