https://www.taxtmi.com/caselaws?id=359473 The ITAT allowed the assessee's appeal, remanding the matter to the CIT(A) for a fresh review based on the accrual/crystallization of expenses in the assessment year. The ITAT emphasized that expenses under the mercantile system must accrue and crystallize during the year to be eligible for deduction, even if paid later. The AR's argument of fair estimation supported by detailed evidence was considered, directing the CIT(A) to reassess the claim accordingly. en-us Fri, 06 Apr 2018 00:00:00 +0530 Tue, 01 May 2018 06:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359473 The ITAT allowed the assessee's appeal, remanding the matter to the CIT(A) for a fresh review based on the accrual/crystallization of expenses in the assessment year. The ITAT emphasized that expenses under the mercantile system must accrue and crystallize during the year to be eligible for deduction, even if paid later. The AR's argument of fair estimation supported by detailed evidence was considered, directing the CIT(A) to reassess the claim accordingly. Case-Laws Income Tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359473