TMI BlogAccrual of income - assessee was declaring LPS on outstanding credit receivables on accrual basis -...Accrual of income - assessee was declaring LPS on outstanding credit receivables on accrual basis - hybrid system of accounting - the assessee has followed the directions of Ministry of Power dated 19.08.2003 and also considering the fact that in the past also huge amount of outstanding LPS are waived of and there is no certainity of receiving LPS charges from the Government companies and also considering the fact that similar views of accepting such treatment of LPS charges on cash basis even w..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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