Deduction
This query is : Resolved
abhishek jain
(Querist)
08 June 2012
Deduction of Prior Period Expenditure will be allowed in Income Tax or Not ?
C.A Anshul Singhal
(Expert)
08 June 2012
CIT Vs Vishnu Industrial Gas (Delhi High Court)
Where the department had not disputed that the expenditure was deductible in principle but was only disputing the year in which the deduction could be allowed HELD, castigating the department, that as the tax rates were the same in both years, the department should not fritter away its energies in raising questions as to the year of deductibility/taxability.
Where the department had not disputed that the expenditure was deductible in principle but was only disputing the year in which the deduction could be allowed HELD, castigating the department, that as the tax rates were the same in both years, the department should not fritter away its energies in raising questions as to the year of deductibility/taxability.
abhishek jain
(Querist)
11 June 2012
not clear...kindly explain in simple language.....
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