Solid Waste Expenses kept in a Temporary Site Is Accrued Liability, not Contingent Liability: ITAT Deletes Addition

Solid - Waste - Expenses - Temporary - Accrued - Liability - Contingent - Liability - ITAT - Deletes - Addition - TAXSCAN

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals)[CIT(A)] and deleted the addition made by the Assessing Officer (AO) of solid waste expenses of ₹7,73,73,600/-. The ITAT concluded that the provision made by the assessee, The Green Environment Services Co-op Society Ltd., was an admissible…

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