Prior period expenditure can be claimed in the year in which liability crystallises

Advertisement PCIT Vs Balmer Lawrie and Company Limited (Calcutta High Court) The tribunal after taking note of the factual position noted that the CIT(A) has taken specific note of the fact that the expenses claimed by the assessee as prior period, the liability to pay had crystallized during the relevant previous year and therefore the claim was allowed. Further the tribunal noted that no appeal was preferred by the revenue against the orders of the CIT(A) for the assessment years 2007-2008 to 2009-20 10 and the appeals filed by the revenue for the assessment years 2010-2011 and 2011-2012...