Deduction for Prior Period Expenditure Allowed in Assessment Year 2006-07, Not in 2007-08. https://www.taxtmi.com/highlights?id=4401 Prior period expenditure - recognition on the basis of finalization of negotiations - deduction is not permissible in assessment year 2007-08, but, it is permissible in assessment year 2006-07 - AT en-us Fri, 13 Jul 2012 20:10:48 +0530 Fri, 13 Jul 2012 20:10:48 +0530 TaxTMI RSS Generator Deduction for Prior Period Expenditure Allowed in Assessment Year 2006-07, Not in 2007-08. https://www.taxtmi.com/highlights?id=4401 Prior period expenditure - recognition on the basis of finalization of negotiations - deduction is not permissible in assessment year 2007-08, but, it is permissible in assessment year 2006-07 - AT Highlights Income Tax Fri, 13 Jul 2012 20:10:48 +0530 https://www.taxtmi.com/highlights?id=4401