TMI BlogAccrual of income / Undisclosed income - Nature of advance money received - The amount so received is...Accrual of income / Undisclosed income - Nature of advance money received - The amount so received is only for carrying out the development work in terms of the agreement between the parties and it was duly shown in the balance sheet filed with the authorities, as such it cannot be considered as commission or brokerage paid to assessee. It was received by the assessee as an agent to carry out the work entrusted to the assessee by Astitva group of companies and it cannot be taxed in the hands of ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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