Deduction of prior period expenditure in the current year under Income Tax

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..... Deduction of prior period expenditure in the current year under Income Tax - Commentaries / Editorials Dated:- 3-11-2010 - News - Recent Decision COMMISSIONER OF INCOME-TAX Versus EXXON MOBIL LU .....

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..... BRICANTS P. LTD [2010 -TMI - 78175 - DELHI HIGH COURT] Whether expenditure related to prior period are eligible for deduction during the current year? The answer is yes where liability was deter- .....

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..... mined and crystallized in the year in question. Relied upon Decisions: Nonsuch Tea Estates Limited Versus Commissioner of Income-Tax, Madras [2008 -TMI - 6434 - SUPREME Court] Saurasht .....

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..... ra Cement And Chemical Industries Limited Versus Commissioner Of Income-Tax [2008 -TMI - 19446 - GUJARAT High Court] Additional Commissioner Of Income-Tax Versus Farasol Limited [2008 -TMI - 26220 .....

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..... - RAJASTHAN High Court] The following decision of Apex court has been distinguished: Bharat Earth Movers Versus Commissioner of Income-Tax [2008 -TMI - 5816 - SUPREME Court] - News - P .....

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..... ress release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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