Analysis of Delhi HC decision striking down certain ICDS provisions

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ICDS - I 1) The concept of prudence has been completely done away with in the ICDS. **Legal provisions / contentions**This is contrary to the decision such as CIT v. Triveni Engg. Industries Ltd. 2) Expected losses and marked to market losses are not to be recognized or allowed under ICDS.
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CA Rohit kapoor

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