Assessee cannot claim prior period expenses as revenue expenses without proof, even if for long-term interest protection.

Assessee cannot claim prior period expenses as revenue expenses without proof, even if for long-term interest protection. https://www.taxtmi.com/highlights?id=17856 Prior period expenditure - Assessee cannot be allowed to claim such expenditure as revenue expenses which is claimed to have been incurred to safeguard the long term interest of the assessee, which remains unsubstantiated - AT en-us Tue, 25 Mar 2014 14:39:57 +0530 Tue, 25 Mar 2014 14:39:57 +0530 TaxTMI RSS Generator Assessee cannot claim prior period expenses as revenue expenses without proof, even if for long-term interest protection. https://www.taxtmi.com/highlights?id=17856 Prior period expenditure - Assessee cannot be allowed to claim such expenditure as revenue expenses which is claimed to have been incurred to safeguard the long term interest of the assessee, which remains unsubstantiated - AT Highlights Income Tax Tue, 25 Mar 2014 14:39:57 +0530 https://www.taxtmi.com/highlights?id=17856