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Tax Audit -Prior Period Items

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(Querist)
29 May 2010 During the year 2009-10,The Sales Tax Department has levied a sum of Rs 10,000 as Sales Tax Penalty for 2008-09 on account Short payment of Output Vat .
whether the expenditure of Rs 10,000 which is pertaining to 2008-09 can it be considered as prior period item.
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
29 May 2010 no, since the order of levying penalty is passed in the current year.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
29 May 2010 Penalty regarding to Govt Due will be allowed in the year in which is imposed.
Hence it is not prior period items
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