Tax Appeal Decision: Loss Should Be Accounted in Assessment Year 1997-98, Not 1998-99, Says Commissioner of Income Tax.

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....Provision for payment made on behalf of subsidiary company claimed as expense - Even if the version of the CIT(A) taken as correct, then also, the loss being crystallized on 3.3.1997, the same was in the AY 1997-98 and not during the assessment year under consideration i.e. AY 1998-99 - AT....