2016 (7) TMI 1250

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....ainst the judgement of the Income Tax Appellate Tribunal dated 1.1.2016 raising following questions of law for our consideration : "(A) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in deleting the disallowance of Prior Period expenditure of Rs. 67,88,591/­? (B) Whether on the facts and in the circumstances of the case and in law....

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....ard learned counsel for the parties and having perused the documents on record, we see no reason to interfere. Firstly, the expenditure of Rs. 67.88lacs is a fraction of the total income of the assessee company declared at Rs. 105.88 crores. Further, even the Revenue does not dispute that the company would be taxed at the same rate in the present assessment year or during earlier year. It is also ....