Prior Period Income

This query is : Resolved 

04 June 2011 Under which section prior period income is taxable? & When?

05 June 2011
As per general accounting principles and AS(IT)- 5...
Members opinions r invited

07 June 2011 Under matching cost principal and u/s 37 wherein it is mentioned that expenses should be incurred in previous year

07 June 2011 Sorry i understood prior period exp..please refer section 89(1) for this


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