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Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Disallowance of prior paid expenses - prior period expenses can ...


Prior Period Expenses Allowed if Bills Received Later; Follow Accounting Standard 5 for Proper Treatment in Accounts.

June 12, 2014

Case Laws     Income Tax     AT

Disallowance of prior paid expenses - prior period expenses can be allowed if bills are received in subsequent year - AS-5 stipulates that such expenditure should be given a particular treatment in the accounts - AT

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