Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2021 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (7) TMI 259 - MADRAS HIGH COURTPrior period expenditure - Whether Tribunal is right in holding that the expenditure was crystalized during the relevant previous year when the assessee hijmself has classified the expenses as "prior period expenditure"? - Tribunal held that one time payment made by the assessee towards prepayment premimum and interest compense is business expenditure in the nature of revenue Expenditure - HELD THAT:- Having regard to the submissions made by the learned counsel on either side, following the ratio laid down in SUSHIL KUMAR GUPTA [2012 (9) TMI 621 - SC ORDER] the questions of law are decided against the Revenue and in favour of the assessee.
|