Hi
A mine and accident happened injuring 20 worksmen. When the mine started a provision was created
Dr.MINE
DR. DECOMISSIONING PROVISION
then after the accident I have altered it to
DR. DECOMMISSIONING PROVISION
CR. ACCIDENT PROVISION
dont you think there is there is a problem here because the asset value is left inflated? Yes but the mine is not working now and no need for that provision.
So under what section is a provision expense taxable.
CAclubindia
