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Provision for actual delays & defaults is ‘ascertained liability’ & allowable
Case Law Details
- Case Name
- Huawei Telecommunications (India) Pvt. Ltd.Vs. DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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Huawei Telecommunications (India) Pvt. Ltd.Vs. DCIT (ITAT Delhi)
The taxpayer challenged disallowance/confirmation of Rs.1,010,856,249/- & Rs.128,611,894/- for Assessment Years 2012-13 & 2013-14 respectively on account of provision for customer claim on the ground that the amount provided by the taxpayer pertaining to actual delays/defaults occurred as per the terms of the contract entered between the taxpayer and its customers and as such is an “ascertained liability”. The taxpayer has raised specific objections before the ld. DRP, available at paves 256-274 and...
