Expenses allowable as revenue expenditure u/s 37 - there is no concept of deferred revenue expenditure...

Expenses allowable as revenue expenditure u/s 37 - there is no concept of deferred revenue expenditure in the Act except under certain specified sections where amortisation is specifically provided. Normally, the ordinary rule would be that the revenue expenditure incurred in a particular year is to be allowed in that year - HC .....

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