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Assessee Wins Appeal; Prior Period Expenses Deduction Allowed
Principal Commissioner of Income-tax-2 v. Balmer Lawrie & Co. Ltd.
13-04-2023
TAT NO. 259/2022 IA NO. GA/02 OF 2022
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In this case, the assessee claimed prior period expenses adjustment in the return of income for the assessment year 2012-13. The Assessing Officer disallowed the expenses, stating the assessee did not follow the mercantile system of accounting. The assessee appealed, arguing that the expenses were deductible as they were incurred wholly and exclusively for business purposes and that expenditure though related to earlier period got crystallized during year.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
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Assessee Wins Appeal; Prior Period Expenses Deduction Allowed
Principal Commissioner of Income-tax-2 v. Balmer Lawrie & Co. Ltd.
13-04-2023
TAT NO. 259/2022 IA NO. GA/02 OF 2022
Practiceguru Sample Posters - Pl Subscribe
In this case, the assessee claimed prior period expenses adjustment in the return of income for the assessment year 2012-13. The Assessing Officer disallowed the expenses, stating the assessee did not follow the mercantile system of accounting. The assessee appealed, arguing that the expenses were deductible as they were incurred wholly and exclusively for business purposes and that expenditure though related to earlier period got crystallized during year.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
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Sample Assessee Wins Appeal; Prior Period Expenses Deduction Allowed
Principal Commissioner of Income-tax-2 v. Balmer Lawrie & Co. Ltd.
13-04-2023
TAT NO. 259/2022 IA NO. GA/02 OF 2022
Practiceguru Sample Posters - Pl Subscribe
In this case, the assessee claimed prior period expenses adjustment in the return of income for the assessment year 2012-13. The Assessing Officer disallowed the expenses, stating the assessee did not follow the mercantile system of accounting. The assessee appealed, arguing that the expenses were deductible as they were incurred wholly and exclusively for business purposes and that expenditure though related to earlier period got crystallized during year.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
Practiceguru Sample Posters - Pl Subscribe
Sample Assessee Wins Appeal; Prior Period Expenses Deduction Allowed
Principal Commissioner of Income-tax-2 v. Balmer Lawrie & Co. Ltd.
13-04-2023
TAT NO. 259/2022 IA NO. GA/02 OF 2022
Practiceguru Sample Posters - Pl Subscribe
In this case, the assessee claimed prior period expenses adjustment in the return of income for the assessment year 2012-13. The Assessing Officer disallowed the expenses, stating the assessee did not follow the mercantile system of accounting. The assessee appealed, arguing that the expenses were deductible as they were incurred wholly and exclusively for business purposes and that expenditure though related to earlier period got crystallized during year.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
Practiceguru Sample Posters - Pl Subscribe
Sample Assessee Wins Appeal; Prior Period Expenses Deduction Allowed
Principal Commissioner of Income-tax-2 v. Balmer Lawrie & Co. Ltd.
13-04-2023
TAT NO. 259/2022 IA NO. GA/02 OF 2022
Practiceguru Sample Posters - Pl Subscribe
In this case, the assessee claimed prior period expenses adjustment in the return of income for the assessment year 2012-13. The Assessing Officer disallowed the expenses, stating the assessee did not follow the mercantile system of accounting. The assessee appealed, arguing that the expenses were deductible as they were incurred wholly and exclusively for business purposes and that expenditure though related to earlier period got crystallized during year.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
Practiceguru Sample Posters - Pl Subscribe
Sample Assessee Wins Appeal; Prior Period Expenses Deduction Allowed
Principal Commissioner of Income-tax-2 v. Balmer Lawrie & Co. Ltd.
13-04-2023
TAT NO. 259/2022 IA NO. GA/02 OF 2022
Practiceguru Sample Posters - Pl Subscribe
In this case, the assessee claimed prior period expenses adjustment in the return of income for the assessment year 2012-13. The Assessing Officer disallowed the expenses, stating the assessee did not follow the mercantile system of accounting. The assessee appealed, arguing that the expenses were deductible as they were incurred wholly and exclusively for business purposes and that expenditure though related to earlier period got crystallized during year.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
The Commissioner (Appeals) and Tribunal upheld the assessee's claim, and the revenue failed to disprove the explanation provided by the assessee. Consequently, no substantial question of law arose for consideration, and the ruling was in favor of the assessee.
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