Assessing Officer Misinterprets Price Support Account Provision, Failing to Recognize Actual Expenditure as Integral to Total Expense.

Assessing Officer Misinterprets Price Support Account Provision, Failing to Recognize Actual Expenditure as Integral to Total Expense. https://www.taxtmi.com/highlights?id=36909 TPA - ALP - Provision of expenses - The AO has misunderstood the provision debited and credited to the price support account as a mere provision and not as an actual expense. When this provision is a part and parcel of the total price support expense, such part of provision, which actually represents the expenditure incurred, cannot be disallowed. - HC en-us Thu, 16 Nov 2017 09:38:37 +0530 Thu, 16 Nov 2017 09:24:22 +0530 TaxTMI RSS Generator Assessing Officer Misinterprets Price Support Account Provision, Failing to Recognize Actual Expenditure as Integral to Total Expense. https://www.taxtmi.com/highlights?id=36909 TPA - ALP - Provision of expenses - The AO has misunderstood the provision debited and credited to the price support account as a mere provision and not as an actual expense. When this provision is a part and parcel of the total price support expense, such part of provision, which actually represents the expenditure incurred, cannot be disallowed. - HC Highlights Income Tax Thu, 16 Nov 2017 09:38:37 +0530 https://www.taxtmi.com/highlights?id=36909