2016 (7) TMI 1564

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.... Caveator for the Opponent. ORAL ORDER Mr. Akil kureshi  Revenue has filed this appeal raising the following questions for our consideration: "(A)  Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in confirming of disallowance of Prior Period expenditure of Rs. 3,07,53,106/­ by the ld. CIT(A)? (B)  Whether on the facts and in t....

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....he second ground was that in any case, the Revenue had recognised the prior period income. If that be so, according to the Tribunal, it would be unfair not to recognise the expenditure also of the prior period. 3. Having heard 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 t....