https://www.taxtmi.com/caselaws?id=406644 The Revenue's appeal was dismissed due to the tax effect falling below the limit for filing an appeal before the ITAT. The rejection of a comparable in the comparability analysis was deemed infructuous as the assessee did not press certain grounds. Regarding the disallowance of prior period expenses, the ITAT found that the expenses, though related to earlier years, were crystallized in the relevant assessment year. Consequently, the ITAT set aside the CIT(A)'s findings and deleted the addition made by the AO for prior period expenses. The appeal of the Revenue was dismissed, while the appeal of the assessee was partly allowed concerning prior period expenses. en-us Fri, 19 Mar 2021 00:00:00 +0530 Tue, 20 Apr 2021 12:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406644 The Revenue's appeal was dismissed due to the tax effect falling below the limit for filing an appeal before the ITAT. The rejection of a comparable in the comparability analysis was deemed infructuous as the assessee did not press certain grounds. Regarding the disallowance of prior period expenses, the ITAT found that the expenses, though related to earlier years, were crystallized in the relevant assessment year. Consequently, the ITAT set aside the CIT(A)'s findings and deleted the addition made by the AO for prior period expenses. The appeal of the Revenue was dismissed, while the appeal of the assessee was partly allowed concerning prior period expenses. Case-Laws Income Tax Fri, 19 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406644