https://www.taxtmi.com/caselaws?id=402230 The Tribunal allowed the appeal, overturning the disallowance of license fees and recognizing the advance payment as a valid expenditure for the relevant year. The Tribunal held that the advance payment for license fees was correctly claimed as an expenditure when the license was granted, in line with government regulations and the consistency principle. The cash system of accounting did not impact the treatment of the advance payment, which was deemed to have crystallized during the year under consideration. en-us Mon, 02 Nov 2020 00:00:00 +0530 Sat, 26 Dec 2020 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402230 The Tribunal allowed the appeal, overturning the disallowance of license fees and recognizing the advance payment as a valid expenditure for the relevant year. The Tribunal held that the advance payment for license fees was correctly claimed as an expenditure when the license was granted, in line with government regulations and the consistency principle. The cash system of accounting did not impact the treatment of the advance payment, which was deemed to have crystallized during the year under consideration. Case-Laws Income Tax Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402230