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Prior Period Expenses and ESI Payments Disallowed Under Income Tax Act Section 43B; Deduction Only in Year of Payment.

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....Disallowance of prior period expenses - Addition towards ESI payment - provisions of Section 43B of the Act which provides that certain expenditure / payments which are otherwise eligible for deduction under the Act shall be allowed as a deduction only in the year of actual payment irrespective of the year of accrual of such expenditure.....

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Prior Period Expenses and ESI Payments Disallowed Under Income Tax Act Section 43B; Deduction Only in Year of Payment.