https://www.taxtmi.com/caselaws?id=294481 Prior period expenses were held allowable in the year of crystallisation where the correct schedule showed the debit had been recognised in the profit and loss account during the relevant assessment year, and the contrary factual assumption was found incorrect. Depreciation on capital expenditure could not be disallowed under section 40(a)(ia) because that provision applies only to specified revenue payments such as interest, commission, rent, royalty, professional fees, technical fees, and contractor payments; it does not extend to depreciation on capital assets. The substantive additions were therefore deleted and the appeal was partly allowed. en-us Wed, 09 Mar 2011 00:00:00 +0530 Sat, 17 Apr 2021 10:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294481 Prior period expenses were held allowable in the year of crystallisation where the correct schedule showed the debit had been recognised in the profit and loss account during the relevant assessment year, and the contrary factual assumption was found incorrect. Depreciation on capital expenditure could not be disallowed under section 40(a)(ia) because that provision applies only to specified revenue payments such as interest, commission, rent, royalty, professional fees, technical fees, and contractor payments; it does not extend to depreciation on capital assets. The substantive additions were therefore deleted and the appeal was partly allowed. Case-Laws Income Tax Wed, 09 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294481