Preoperative expenses

ravi (senior accountant) (507 Points)

23 August 2012  

I have "not writtenoff preoperative expenses Rs.97000/- "  sitting in the asset side from long back in my  balance sheet. Can I writeoff such whole amount this year making this year's profit as nil and file income tax return as nil profit- will Assessing officer accept this or will he add back this amount and ask me to pay any incometax -pls suggest