Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Prior period expenses – even if this expenses are allowed in the ...

Case Laws     Income Tax

October 25, 2013

Prior period expenses – even if this expenses are allowed in the earlier years i.e. A.Y. 2000-2001, it will ultimately be adjusted in the present year, by way of set off of brought forward loss, and therefore, it will make no difference even if deduction is allowed in the present year - claim allowed - AT

View Source

 


 

You may also like:

  1. Disallowance of prior period expenses - Deduction of TDS in the current year - it is settled law that deduction can be permitted in respect of only those expenses which...

  2. Prior period expense - Interest liability - Whether liability of earlier years has been crystallized in this year – Deduction allowed - AT

  3. MAT u/s 115JB - The findings of the ld.CIT(A) holding the impugned expenses to be not in the nature of prior period expenses, but confirming the adjustment made to the...

  4. Prior period expenses - liability for over a 12 year period - HC confirmed the disallowance for salary of Managers, Officers on deputation from Hindustan Lever Ltd. for...

  5. Deduction us.37(1) on account of “Escrow Disbursement Provision” ('EDP’) - Prior period expenditure - To put it simply, the AO will bifurcate total Escrow Disbursement...

  6. Transfer pricing adjustment on export commission paid to related party disallowed based on assessee's own case demonstrating benefits and higher profitability. Royalty...

  7. Prior period expenses adjustment against the prior period income - once the prior period income is held to be taxable, the prior period expenditure also should be...

  8. Claim of expenditure pertaining to earlier year - prior period expenses - If there was no accrual of the expenditure in the earlier year or had not become due. It became...

  9. Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

  10. Since the assessment year 1999-2000 and 2000-2001 became final prior to 30th September, 2004, i.e. the introduction of the amended Section 142A, the respondent No.1/ITO...

  11. Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

  12. Prior period expenses – merely because an expense relates to a transaction of an earlier year, it does not become a liability payable in the earlier year unless it can...

  13. Cancellation of exemption certificate of 100EOU - PGST / PVAT - assessment years 2000-01 and 2001-02, the appellant exported nothing outside India. In the assessment...

  14. Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

  15. Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

 

Quick Updates:Latest Updates