The Kerala High Court has ruled that, Actual Payment of Business Expenditure in the relevant Accounting Year not mandatory for claiming Deduction.

The court held that in order to claim deduction of business expenditure, it is not necessary that the amount has been actually paid or expended during the relevant accounting year itself.

The Tribunal was right in confirming the finding of the appellate authority that, the expenditure incurred by the assessee company during the financial years subsequent to the sale of the building, is eligible for deduction in the computation of taxable income.

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