Income tax demand has been set aside by order of CIT appeals. Whether the company still show it as contingent liability simply because the department can go in appeal against the order in appeals of CIT.
DINESH GOEL (G.M. ACCOUNTS) (26 Points)
04 April 2024Income tax demand has been set aside by order of CIT appeals. Whether the company still show it as contingent liability simply because the department can go in appeal against the order in appeals of CIT.
Yasaswi Gomes new
(Finance )
(4484 Points)
Replied 04 April 2024
Probable = provide
possible = disclose
Remote = don’t disclose.
this provisions is a general matter based on past experiences. I believe it’s your 1st experience. So it’s remote.
Yasaswi Gomes new
(Finance )
(4484 Points)
Replied 04 April 2024
I have finished off my preliminary investigation about this situàtion and since standards are helping with the past experiences, we can conclud3
If your provisioning by yourself make it remote cause you don't experiençe about the outcome
If your having a fraud lawyer, forget the whole thing. If you have a valid lawyer, his advise can act like a technical knowhow and he becomes a related party who has significant influence in management decission at this moment. You can disclose
RAJA P M
("Do the Right Thing...!!!")
(127179 Points)
Replied 04 April 2024
Yasaswi Gomes new
(Finance )
(4484 Points)
Replied 04 April 2024
Sorry folks. Sometimes I read the heading or the content writer changed the question lol. What happens was my eyes are blinking rapidly due to summer body overheat. I don't like to eat curd rice and it became more. So I'm avoiding less eye contact with screen. Plus anyways, as you know everyone asks with bad English. So i wrotw it off like that. I think I'll take rest for couple of days. Bye
RAJA P M
("Do the Right Thing...!!!")
(127179 Points)
Replied 04 April 2024
| Originally posted by : Yasaswi Gomes new | ||
 |
Sorry folks. Sometimes I read the heading or the content writer changed the question lol. What happens was my eyes are blinking rapidly due to summer body overheat. I don't like to eat curd rice and it became more. So I'm avoiding less eye contact with screen. Plus anyways, as you know everyone asks with bad English. So i wrotw it off like that. I think I'll take rest for couple of days. Bye |  |
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