https://www.taxtmi.com/caselaws?id=302787 Prior period expenses were held allowable where the related liabilities had crystallised during the relevant year and the assessee's consistent accounting treatment was in line with the statutory framework governing electricity undertakings. The Tribunal noted that the items were separately disclosed in a regular accounting system, the same approach had been accepted in earlier years, and the Revenue had not established any ineligibility for deduction. On that basis, the disallowance was not sustainable and the deletion of the addition was upheld in favour of the assessee. en-us Thu, 20 May 2021 00:00:00 +0530 Sat, 18 Jun 2022 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302787 Prior period expenses were held allowable where the related liabilities had crystallised during the relevant year and the assessee's consistent accounting treatment was in line with the statutory framework governing electricity undertakings. The Tribunal noted that the items were separately disclosed in a regular accounting system, the same approach had been accepted in earlier years, and the Revenue had not established any ineligibility for deduction. On that basis, the disallowance was not sustainable and the deletion of the addition was upheld in favour of the assessee. Case-Laws Income Tax Thu, 20 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302787