Prior Period Expenses Disallowed Without Proof of Crystallization in Current Year; Evidence Required for Tax Claims.

Prior Period Expenses Disallowed Without Proof of Crystallization in Current Year; Evidence Required for Tax Claims. https://www.taxtmi.com/highlights?id=45128 Disallowance of prior period expenses - merely debited expenditure in Profit and Loss account during year is not sufficient to claim expenditure pertaining to this year unless prove that this expenditure has crystallised during the year - If assessee proved that the liability was determined and crystallised during the year it will be allowable other wise it is disallowable. en-us Thu, 14 Mar 2019 09:23:43 +0530 Wed, 13 Mar 2019 11:36:51 +0530 TaxTMI RSS Generator Prior Period Expenses Disallowed Without Proof of Crystallization in Current Year; Evidence Required for Tax Claims. https://www.taxtmi.com/highlights?id=45128 Disallowance of prior period expenses - merely debited expenditure in Profit and Loss account during year is not sufficient to claim expenditure pertaining to this year unless prove that this expenditure has crystallised during the year - If assessee proved that the liability was determined and crystallised during the year it will be allowable other wise it is disallowable. Highlights Income Tax Thu, 14 Mar 2019 09:23:43 +0530 https://www.taxtmi.com/highlights?id=45128