Assessee claimed prior period expenditure in the current assessment year. Assessing Officer disallowed the same on the grounds that the liability pertained to earlier years and assessee failed to establish crystallization during the relevant previous year. Held that where expenditure had not been claimed as a deduction in earlier years and liability crystallized during the year under consideration, deduction could not be denied merely because expenditure related to an earlier period. The matter was restored to the Assessing Officer to verify whether the expenditure had already been claimed in earlier years. If not claimed earlier, the same was allowable in the year under consideration. (AY. 2012-13, 2014-15, 2015-16)\u00a0\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 37(1): Business expenditure-Prior period expenditure -Crystallisation of liability \u2013Allowable in year of claim, subject to verification. [S. 145] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62503","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gg7","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=62503"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62503\/revisions"}],"predecessor-version":[{"id":62504,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62503\/revisions\/62504"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}