Can unpaid business expenses be claimed as tax deduction? ITAT Mumbai's ruling explains when you can
· livemint.com
A redevelopment firm won tax relief after the ITAT ruled its ₹8 crore tenant compensation provision was not contingent. The order explains when unpaid business liabilities can still be claimed as deductible expenses.
A redevelopment firm's provision of ₹8 crore towards compensation payable to tenants cannot be disallowed merely because the amount had not been paid or final...