Allowing the appeal the Tribunal held that on the facts the assessee omitted to book expenditure to closing work in progress m which was rectified during the year, disallowance was directed to be deleted. (AY.2013-14)
Citywood Builders Pvt. Ltd. v. Dy.CIT (2021) 87 ITR 83 (SN) (Mum.) (Trib.)
S. 37(1) : Business expenditure-Prior period interest-Omission to book expenditure to closing work-in-progress rectified during year-No disallowance warranted. [S. 145]