PGBP_advance payment
This query is : Resolved
CA Vijeta Verma
(Querist)
13 August 2010
is the payment of expenses in advance is a deuctible expenditure in both cases:
1 under sec43B
2.in any other case like sec 37(1)
1 under sec43B
2.in any other case like sec 37(1)
13 August 2010
in Gopi Krishna Granites (India) Ltd v. Dy.CIT (2001) 251 ITR 337 (AP) it was held tat advance payment of interest shall not be eligible for deduction u/s 43B. so i think it applies to rest of the payment u/s 43b also since it was held tat assessee has not incurred any liability for payment
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