An assessee(Company) debits sales tax paid in FY 2009-10 which pertains to FY 2008-09 for which no provision was provided. whether the expenditure will be disallowed as prior period item or can it be claimed as deduction in AY 2010-11 the reason being even if provision was provided in FY 2008-09 itself the same would have been diallowed u/s 43B?
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query.........
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It will be disallowed...As prior period expenses doesnt nt takes into provision in books...and also prior period expenses doesnt get affected with 43B....
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