Prior period expense

Ritzz (CA Final - Article ) (365 Points)

07 September 2013  

Dear Friends

 

Can anyone please explain how to check Prior period expenses while doing tax audit??

 

Apart from taking management representation letter or on the basis of period or date on which it is incurred ; is there anything else we can check?? 

 

Also, how can the assessee put forward his argument of reducing the dis-allowance in such cases??

 

Kindly solve the query

 

Thanks & Regards