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Expenditure written back next year

This query is : Resolved 
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(Querist)
17 December 2011 Sir/Madam

In one of the cases the company taken service tax paid on transportation as an expenditure during the last year. But during next year the company decided to take cenvat credit of above and hence credited to prior period item.

I would like to ask whether this will be added to income in the current year ?
What else ?

Kindly let me know your valuable opinions.

Thanking you
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Aijaz Shaikh

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Aijaz Shaikh (Expert)
18 December 2011 It is taxable u/s 41 i.e. deemed income
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Aashish M Deshpande

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Aashish M Deshpande (Querist)
19 December 2011 Is there any possible way to get away with it...
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