Prior period expenses – merely because an expense relates to a ...

Expenses from Previous Years Not Automatically Liabilities Unless Determined and Crystallized in Assessed Year.

October 16, 2014

Case Laws Income Tax AT

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 be said that the liability was determined and crystallized in the year in question. - AT

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Prior period expenses – merely because an expense relates to a ...

Expenses from Previous Years Not Automatically Liabilities Unless Determined and Crystallized in Assessed Year.

October 16, 2014

Case Laws Income Tax AT

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