Tribunal held that, merely on the ground that in ledge account the expenditure of commission was debited for earlier year, though the commission pertaining to current year , disallowance cannot be made (AY. 2003 -04)
ACIT v. Overseas Trading and Shipping Co. (P.) Ltd. (2018) 173 ITD 446 (Rajkot)(Trib.)
S. 37(1) : Business expenditure-Commission–Prior period expenditure -Expenditure for earlier year in its ledger account in respect of commission pertaining to current year-Merely on the basis of entries in books of account disallowance cannot be made . [S. 145]