Provisions of Section 43B when revenue expenditure was not claimed in the earlier year

Last updated: 15 October 2021
Quick Summary
This judgement addresses the deductibility of revenue expenditure, specifically customs duty, under Section 43B of the Income Tax Act. The assessee did not claim the customs duty as a deduction in the year of payment, expecting special benefits. When these benefits were not received, the assessee wrote off the duty and claimed it as revenue expenditure in a later year. The tribunal upheld the decision that such expenditure is allowable in the year of payment itself, dismissing the Revenue's appeal.

Court :
ITAT Ahmedabad

Brief :
The Revenue is in appeal before the Tribunal against the order of the learned Commissioner of Income-Tax (Appeals)-2, Ahmedabad (“CIT(A)” in short) dated 14.08.2019 passed for Assessment Year 2013-14.

Citation :
ITA No. 1694/Ahd/2019 & CO No. 16/Ahd/2020

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