Provision written back

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2015 Sir,

We have booked a provision in our books of account in last years and add back while preparing my Co's Income tax computation and taxed on that provision. Now, in the current year we written back that provision. Now, question is:- We have to pay income tax again on that provision because it will be credited in Profit and Loss account whereas we have already added back in our computation in last year. Please reply with section and case law if any.

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2015 No one has the solution