Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Accrual of income - taxability of advances received - Merely ...

Income Tax

June 16, 2014

Accrual of income - taxability of advances received - Merely because an amount has been entered into in assessee’s book, is not conclusive proof that income has accrued - AT

View Source

 


 

You may also like:

  1. Compensation charges - revenue v/s capital - Payment of interest on advance received against the booking of plots while refunding the amount - deduction allowed. - AT

  2. Taxability of amount on which TDS credit has been claimed - Merely because TDS has been deducted, advances cannot be treated as income - as the assessee has claimed TDS...

  3. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

  4. Accrual of income - An income from the MOU/lease agreement cannot be said to have accrued or arisen or become legally due to assessee till the time the underlying...

  5. Taxability of claim for damages - enhanced compensation - No amount has been received till date by the Assessee pertaining to the damages as claimed by the assessee -...

  6. Taxability of an amount received from supply of drawings and designs - Accrual of income in India - Once the income from supply of plant and equipment is held to be not...

  7. Taxability of capital gains - denial of adjustments to full value of sale consideration towards amount lying in Escrow account while determining the LTCG - ITAT accepted...

  8. Estimated addition @ 25% of the advance booking receipt on shops/flats by the AO u/s 68 - Since the project could not be further carried out due to legal bar the...

  9. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

  10. Amounts received by the assessee from various producers towards advances cannot be assessed as income of the assessee. - AT

 

Quick Updates:Latest Updates