https://www.taxtmi.com/caselaws?id=194569 The High Court upheld the deletion of prior period expenses by the Assessing Officer, emphasizing the importance of concrete evidence and adherence to accounting principles under the mercantile system. The decision was based on legal precedents and the lack of a valid basis for disallowing the expenses, ultimately resulting in the dismissal of the department's appeal. en-us Fri, 19 May 2017 00:00:00 +0530 Wed, 13 Sep 2017 20:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194569 The High Court upheld the deletion of prior period expenses by the Assessing Officer, emphasizing the importance of concrete evidence and adherence to accounting principles under the mercantile system. The decision was based on legal precedents and the lack of a valid basis for disallowing the expenses, ultimately resulting in the dismissal of the department's appeal. Case-Laws Income Tax Fri, 19 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194569