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
News and Press Release
Dated:- 3-11-2010

Recent Decision COMMISSIONER OF INCOME-TAX Versus EXXON MOBIL LUBRICA .....

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..... NTS 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-mined an .....

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..... d crystallized in the year in question. Relied upon Decisions: Nonsuch Tea Estates Limited Versus Commissioner of Income-Tax, Madras [2008 -TMI - 6434 - SUPREME Court] Saurashtra Cement And Chemic .....

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..... al Industries Limited Versus Commissioner Of Income-Tax [2008 -TMI - 19446 - GUJARAT High Court] Additional Commissioner Of Income-Tax Versus Farasol Limited [2008 -TMI - 26220 - RAJASTHAN High Court .....

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

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