Prior Period Expenses Adjusted with Brought Forward Losses; Deduction Allowed, No Significant Impact on Current Year.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Prior period expenses – even if this expenses are allowed in the earlier years i.e. A.Y. 2000-2001, it will ultimately be adjusted in the present year, by way of set off of brought forward loss, and therefore, it will make no difference even if deduction is allowed in the present year - claim allowed - AT....