Reopening not allowable to disallow prior period expenses duly disclosed during original Assessment

Orange Business Services India Solutions Private Limited Vs DCIT (ITAT Delhi) Facts regarding disallowance of prior period expenses amounting to Rs.1,08,63,174/- and MAT. Whether the assessee disclosed fully and truly all material facts necessary for the assessment: During the subject assessment year, the assessee has debited prior period expenses amounting to Rs.1,08,63,174/- to its profit and loss account to arrive at the net profit for the year under consideration, in accordance with the provisions of Accounting Standard – 5. In computing the book profits for the purposes of Minimum A...