https://www.taxtmi.com/caselaws?id=277808 Prior period expenses were allowed where supporting party-wise records showed settlement, billing and payment during the year, and the revenue did not rebut the claim; the liabilities were treated as crystallised in the relevant year, so disallowance was deleted. Interest attributable to investment in shares of an associate concern was also disallowed only on the facts, but the Tribunal treated the investment as commercially expedient because it was linked to the business project and sales-tax benefit scheme; the interest disallowance was therefore deleted. The disputed additions were thus removed in full, and the assessee succeeded. en-us Wed, 15 Dec 2010 00:00:00 +0530 Tue, 25 Dec 2018 11:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277808 Prior period expenses were allowed where supporting party-wise records showed settlement, billing and payment during the year, and the revenue did not rebut the claim; the liabilities were treated as crystallised in the relevant year, so disallowance was deleted. Interest attributable to investment in shares of an associate concern was also disallowed only on the facts, but the Tribunal treated the investment as commercially expedient because it was linked to the business project and sales-tax benefit scheme; the interest disallowance was therefore deleted. The disputed additions were thus removed in full, and the assessee succeeded. Case-Laws Income Tax Wed, 15 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277808