https://www.taxtmi.com/caselaws?id=265457 The Tribunal ruled in favor of the Assessee, overturning the disallowance of prior period expenses by the Ld CIT(A). It found that the liability crystallized in the current year when the contractor raised the bill, justifying the deduction for that year. Emphasizing the significance of recognizing when a liability becomes due and the impact of TDS deduction on expense deductibility, the Tribunal directed the AO to delete the disallowed amount and allowed the Assessee's appeal. en-us Wed, 20 Aug 2014 00:00:00 +0530 Mon, 23 Feb 2015 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265457 The Tribunal ruled in favor of the Assessee, overturning the disallowance of prior period expenses by the Ld CIT(A). It found that the liability crystallized in the current year when the contractor raised the bill, justifying the deduction for that year. Emphasizing the significance of recognizing when a liability becomes due and the impact of TDS deduction on expense deductibility, the Tribunal directed the AO to delete the disallowed amount and allowed the Assessee's appeal. Case-Laws Income Tax Wed, 20 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265457