Dismissing the appeal of the revenue the Court held that there is no concept of deferred expenditure hence it is not open the AO to defer expenses over a period of time. Order of tribunal is affirmed. (AY. 2009-10)
PCIT v. Manugraph India (P) Ltd ( 2019) 267 Taxman 437 (Bom.)(HC)
S. 37(1) : Business expenditure–Deferred expenditure-No concept of deferred revenue expenditure–Expenditure is allowable as deduction.