Previous Year Expenses & Income

Discount received will be shown as an seperate time under the head Indirect Income in the P&L.  the same would be chargeable to tax & no benefit of the expense against such income be taken, provided that the assesse is able to proove that the expense could not be recoreded in P&L due to some genuine reasons.

Agree with Giridhar sir

Sir can you please refer any case law regarding said issue or any section/ rule which can clearly state your opinion.

Thanks Ankit