Court to Decide on Taxability of Advances Forwarded to Supplier; Potential Refunds to Customers if Ruled Favorably.

Real income - Addition on account of advances received from customers which have been transmitted to the supplier - final judgement from the courts were pending - If the Courts decides the issue in favour of the assessee, then the assessee would have to return this amount to customers. - Not taxable as no real income arose. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X