https://www.taxtmi.com/caselaws?id=376207 The Court upheld the Income Tax Appellate Tribunal's decision to allow the respondent's claim of expenditure pertaining to an earlier year under the mercantile system of accountancy for Assessment Year 2010-2011. The Tribunal found that the expenses in question crystallized during the subject assessment year, justifying their allowance. The Court clarified that expenses must become due to accrue, which occurred in the previous year relevant to the subject assessment year. As no substantial question of law was raised, the appeal was dismissed without costs. en-us Wed, 27 Feb 2019 00:00:00 +0530 Mon, 04 Mar 2019 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376207 The Court upheld the Income Tax Appellate Tribunal's decision to allow the respondent's claim of expenditure pertaining to an earlier year under the mercantile system of accountancy for Assessment Year 2010-2011. The Tribunal found that the expenses in question crystallized during the subject assessment year, justifying their allowance. The Court clarified that expenses must become due to accrue, which occurred in the previous year relevant to the subject assessment year. As no substantial question of law was raised, the appeal was dismissed without costs. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376207