https://www.taxtmi.com/caselaws?id=765948 Prior period expenditure was held to be allowable where the claim had crystallised in the relevant previous year and the assessee was taxed at the maximum marginal rate. The timing of accrual alone was not treated as a valid basis to deny the deduction when the tax effect was revenue neutral. On that footing, the disallowance was deleted and the claim was accepted in favour of the assessee. en-us Thu, 30 Jan 2025 00:00:00 +0530 Thu, 13 Feb 2025 08:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765948 Prior period expenditure was held to be allowable where the claim had crystallised in the relevant previous year and the assessee was taxed at the maximum marginal rate. The timing of accrual alone was not treated as a valid basis to deny the deduction when the tax effect was revenue neutral. On that footing, the disallowance was deleted and the claim was accepted in favour of the assessee. Case-Laws Income Tax Thu, 30 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765948