Liquidated damages : Where assessee had entered into written contracts with parties in relation to liquidated damages on account of delay in deliverables and assessee had made provision for liquidated damages based on period of delay, since assessee had reversed provision for liquidated damages in year in which clients waived said liquidated damages and write back amount had been offered to tax by assessee, disallowance of provision of liquidated damages was to be deleted – Principal Commissioner of Income-tax-4 v. Humboldt Wedag India (P.) Ltd. – [2024] 160 taxmann.com 605 (Delhi)
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