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| The Tax Publishers2021 TaxPub(DT) 3052 (Mum-Trib) INCOME TAX ACT, 1961
Section 37(1)
As bills pertaining to concerned expenses were received during the relevant year though these bills related to earlier year, therefore, these expenses were to be allowed as pertaining to the concerned year as crystalisation hapended during the year. Therefore, prior period expenses could not be disallowed.
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Business expenditure - Prior period expenses - Crystallization during concerned year -
AO made disallowance towards advertisement and publicity expenses on account of being relating to prior period. Held: As bills pertaining to concerned expenses were received during the relevant year though these bills related to earlier year, therefore, these expenses were to be allowed as pertaining to the concerned year as crystalisation hapended during the year. Therefore, prior period expenses could not be disallowed.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2005-06
INCOME TAX ACT, 1961
Section 36(1)(vii)
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