https://www.taxtmi.com/article/detailed?id=8784 IPP are incomes or expenses attributable to periods before the accounting period and commonly arise from conservative estimates, late claims, contingencies resolving, or reclassification on factual ascertainment. The author urges that where IPP are accounted for in the current year and are immaterial, tax authorities should accept them in the year of accounting and avoid reassessment or disallowance that merely shifts recognition between years. Guidance is proposed to limit enquiries to substantial cases and to adopt a materiality threshold for non-action. en-us Sat, 19 Oct 2019 07:05:08 +0530 Sat, 19 Oct 2019 07:05:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8784 IPP are incomes or expenses attributable to periods before the accounting period and commonly arise from conservative estimates, late claims, contingencies resolving, or reclassification on factual ascertainment. The author urges that where IPP are accounted for in the current year and are immaterial, tax authorities should accept them in the year of accounting and avoid reassessment or disallowance that merely shifts recognition between years. Guidance is proposed to limit enquiries to substantial cases and to adopt a materiality threshold for non-action. Articles Other Topics Sat, 19 Oct 2019 07:05:08 +0530 https://www.taxtmi.com/article/detailed?id=8784