https://www.taxtmi.com/news?id=1269 Deductibility of prior-period expenditure depends on whether the liability is determined and crystallized in the current year; such expenditure is eligible for deduction when the obligation becomes fixed in that year, with the decision relying on supportive precedents and distinguishing a prior apex-court authority. en-us Wed, 03 Nov 2010 23:04:58 +0530 Wed, 03 Nov 2010 23:04:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1269 Deductibility of prior-period expenditure depends on whether the liability is determined and crystallized in the current year; such expenditure is eligible for deduction when the obligation becomes fixed in that year, with the decision relying on supportive precedents and distinguishing a prior apex-court authority. News - Wed, 03 Nov 2010 23:04:58 +0530 https://www.taxtmi.com/news?id=1269