Home › Income-Tax Act › CIT v. Karnataka Power Corporation Ltd (No. 2) (2021) 436 ITR 292/ 281 Taxman 600 (Karn.) (HC).Editorial: SLP granted to the Revenue , CIT v. Karnataka Power Corporation Ltd ( 2022) 286 Taxman 561 ( SC)

CIT v. Karnataka Power Corporation Ltd (No. 2) (2021) 436 ITR 292/ 281 Taxman 600 (Karn.) (HC).Editorial: SLP granted to the Revenue , CIT v. Karnataka Power Corporation Ltd ( 2022) 286 Taxman 561 ( SC)

S.37(1): Business expenditure – Prior period expenditure – Held to be allowable

Dismissing the appeal of the revenue the Court held that Commissioner (Appeals) and Tribunal after considering a remand report submitted by AO regarding said expenses and considering audited books of account of assessee allowed said expenses.  Order of Tribunal is affirmed .  (AY. 2006-07)