https://www.taxtmi.com/caselaws?id=281426 The Court dismissed the appeal, affirming the decision in favor of the assessee. The judgment emphasized the importance of valid reasoning and established precedents in determining the treatment of prior period expenses under the mercantile system of accounting, ultimately upholding the deletion of such expenses in this case. en-us Mon, 29 May 2017 00:00:00 +0530 Tue, 18 Jun 2019 21:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281426 The Court dismissed the appeal, affirming the decision in favor of the assessee. The judgment emphasized the importance of valid reasoning and established precedents in determining the treatment of prior period expenses under the mercantile system of accounting, ultimately upholding the deletion of such expenses in this case. Case-Laws Income Tax Mon, 29 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281426