Held that business expenditure which was incurred wholly and exclusively for the purpose of business , though related to earlier year period which got crystallised during the year under consideration is allowable as deduction . (AY. 2012 -13 )
PCIT v. Balmer Lawrie & Co. Ltd (2023)) 149 taxmann.com 286 ( Cal)( HC)
S.37(1): Business expenditure – Prior period expenditure -Crystallised during the year – Allowable as deduction . [ S. 145 ]