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Allowability of prior period expenses

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(Querist)
19 June 2010 Are prior period expenses allowable as expenses while computing Total Taxable Income?? If no than please specify the relevant provisions or caselaws if any??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 June 2010 Sec.37(1) For claiming Expenses while calculating the Tax, the expenses should have been incurred during the Pervious year . so Prior priod expenses not allowed
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