27 September 2008
Is prior period expenditure allowable in next year ? I have heard about recent judgment on this issue. Can u give me any copy of the judgment of link from where I can get this judgment ?
28 September 2008
prior period expenditure will be allowed only if you provide the justification to the satisfaction of IT authorities as to why it was not claimed in that year and why it is claimed now. Otherwise you will have to file a revised return to take the expenditure in the concerned assessment year.
CAclubindia
