Error on submitting Period Closing Entry

I’m getting this error on one of the sites.
Fresh new site doesn’t throw this error while submitting period closing entry.

Traceback (most recent call last):
  File "/home/frappe/frappe-bench/apps/frappe/frappe/desk/form/save.py", line 19, in savedocs
    doc.submit()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 660, in submit
    self._submit()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 649, in _submit
    self.save()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 242, in save
    self.run_post_save_methods()
    return self._save(*args, **kwargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 286, in _save
    self.run_post_save_methods()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 708, in run_post_save_methods
    self.run_method("on_submit")
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 638, in run_method
    return Document.hook(fn)(self, *args, **kwargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 816, in composer
    return composed(self, method, *args, **kwargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 799, in runner
    add_to_return_value(self, fn(self, *args, **kwargs))
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 632, in 
    fn = lambda self, *args, **kwargs: getattr(self, method)(*args, **kwargs)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py", line 17, in on_submit
    self.make_gl_entries()
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py", line 82, in make_gl_entries
    make_gl_entries(gl_entries)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/general_ledger.py", line 19, in make_gl_entries
    save_entries(gl_map, adv_adj, update_outstanding)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/general_ledger.py", line 88, in save_entries
    validate_expense_against_budget(entry)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/budget/budget.py", line 55, in validate_expense_against_budget
    cc_lft, cc_rgt = frappe.db.get_value("Cost Center", args.cost_center, ["lft", "rgt"])
TypeError: 'NoneType' object is not iterable

Traceback (most recent call last):
  File "/home/frappe/frappe-bench/apps/frappe/frappe/app.py", line 55, in application
    response = frappe.handler.handle()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/handler.py", line 19, in handle
    execute_cmd(cmd)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/handler.py", line 36, in execute_cmd
    ret = frappe.call(method, **frappe.form_dict)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/__init__.py", line 879, in call
    return fn(*args, **newargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/desk/form/save.py", line 19, in savedocs
    doc.submit()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 660, in submit
    self._submit()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 649, in _submit
    self.save()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 242, in save
    return self._save(*args, **kwargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 286, in _save
    self.run_post_save_methods()
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 708, in run_post_save_methods
    self.run_method("on_submit")
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 638, in run_method
    return Document.hook(fn)(self, *args, **kwargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 816, in composer
    return composed(self, method, *args, **kwargs)
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 799, in runner
    add_to_return_value(self, fn(self, *args, **kwargs))
  File "/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py", line 632, in 
    fn = lambda self, *args, **kwargs: getattr(self, method)(*args, **kwargs)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py", line 17, in on_submit
    self.make_gl_entries()
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py", line 82, in make_gl_entries
    make_gl_entries(gl_entries)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/general_ledger.py", line 19, in make_gl_entries
    save_entries(gl_map, adv_adj, update_outstanding)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/general_ledger.py", line 88, in save_entries
    validate_expense_against_budget(entry)
  File "/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/budget/budget.py", line 55, in validate_expense_against_budget
    cc_lft, cc_rgt = frappe.db.get_value("Cost Center", args.cost_center, ["lft", "rgt"])
TypeError: 'NoneType' object is not iterable

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