Payment of Tax Consultation Fee after passing of Order by Income Tax Department cannot be treated as Prior Period Expenses: ITAT [Read Order]

By Taxscan Team - On June 18, 2022 12:33 pm - 2 mins read

Payment of Tax - Consultation Fee - Income Tax Department - Prior Period Expenses - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai held that payment of Tax Consultation Fee after passing of Order by Income Tax Department cannot be treated as Prior Period Expenses. The assessee, M/s. Maharashtra State Electricity Transmission Company Ltd. is one of the successor companies to the erstwhile Maharashtra State Electricity Board (MSEB. On the demerger,…

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