{"id":21864,"date":"2021-09-25T13:45:19","date_gmt":"2021-09-25T08:15:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-metropolitan-transport-corp-chennai-ltd-2021-280-taxman-249-mad-hc\/"},"modified":"2021-09-25T13:45:19","modified_gmt":"2021-09-25T08:15:19","slug":"cit-v-metropolitan-transport-corp-chennai-ltd-2021-280-taxman-249-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-metropolitan-transport-corp-chennai-ltd-2021-280-taxman-249-mad-hc\/","title":{"rendered":"CIT v. Metropolitan Transport Corp. (Chennai) Ltd. (2021) 280 Taxman 249 (Mad.)(HC)"},"content":{"rendered":"<p>Held that provision for wage arrears was an ascertained liability and allowable as deduction notwithstanding the fact that the said provision has been accounted on cash basis. \u00a0Followed Bharat Earth Movers\u00a0 v. CIT\u00a0 (2000) 245 ITR 428 (SC)\u00a0 Calcutta Co. Ltd.\u00a0 v. CIT (1959) 37 ITR 1 (SC). (AY. 2006-07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Provision for wage arrears-Allowable as deduction. [S. 28(i), 145] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-21864","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5GE","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=21864"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21864\/revisions"}],"predecessor-version":[{"id":21865,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21864\/revisions\/21865"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=21864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=21864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=21864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}