https://www.taxtmi.com/caselaws?id=399948 The Tribunal allowed the assessee's appeal, overturning the disallowances of prior period expenses and business promotion/social welfare expenses made by the AO and upheld by the CIT(A). The Tribunal recognized the expenses as legitimate business expenditures, citing consistent accounting practices and previous favorable Tribunal decisions. The disallowed expenses were found to be crystallized in the current year, ultimately leading to the deletion of the additions. The order was pronounced on 04/08/2020. en-us Tue, 04 Aug 2020 00:00:00 +0530 Fri, 23 Oct 2020 15:23:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399948 The Tribunal allowed the assessee's appeal, overturning the disallowances of prior period expenses and business promotion/social welfare expenses made by the AO and upheld by the CIT(A). The Tribunal recognized the expenses as legitimate business expenditures, citing consistent accounting practices and previous favorable Tribunal decisions. The disallowed expenses were found to be crystallized in the current year, ultimately leading to the deletion of the additions. The order was pronounced on 04/08/2020. Case-Laws Income Tax Tue, 04 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399948