TaxTMI 
TaxTMI 
Dear All,
Prior Period Expenses are disallowable while computing income under head PGBP.... Let me know relevent Legal provision for the same....
Thanks in advance
Disallowence
21 Apr 2017 
1 Reply 
858 Views Asked by
Prior period expenses disallowance questioned for PGBP; query seeks legal provision for tax treatment of prior accounting charges.
Whether Prior Period Expenses are disallowable in computing income under Profit and Gains from Business or Profession is raised as a query seeking the relevant legal provision; the issue focuses on tax treatment of expenses attributable to prior accounting periods when assessing current period business income, and the lone reply requests clarification of the term "prior period expenses." (AI Summary)
Whether Prior Period Expenses are disallowable in computing income under Profit and Gains from Business or Profession is raised as a query seeking the relevant legal provision; the issue focuses on tax treatment of expenses attributable to prior accounting periods when assessing current period business income, and the lone reply requests clarification of the term "prior period expenses." (AI Summary)
