Hello All,
Assessee is following accrual basis for accounting. In A.Y. 2015-16 it has paid Entry tax for Assessment years 2011-12,12-13 and 13-14. As these amounts were not known in previous years no provision was made in books. Now as per section 43B it should be allowed on payment basis. Is it mandatory to make provision in prior years to claim dedcution now? Can assessee claim entire entry tax amount in assessment year 2015-16 even if no provision was made in books in earlier years? Please reply.
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