Home Highlights October 2011 Year 2011 This

You may also like:

1. Rejection of books of accounts - recognition of income - Development of housing project - assessee has not followed percentage completion method as per the Guidance Note...

2. Claim of deduction - lease equalization charge - After referring to the Guidance Note on Accounting for Leases, revised in the year 1995, Supreme Court held that method...

3. Allowable business expenditure u/s 37 - AO was in error in taking all the selling and market expenses to WIP ignoring the guidance note of ICAI as regards accounts of...

4. GST implementation - Guidance Note for Importers and Exporters

5. Classification of supply - GTA Service - Sub-contracting activity - one consignment note issued by the contractor and second consignment note issued by the...

6. Determination of turnover for tax audit u/s 44AB - The A.O. in the assessment order has referred to share trading guidance note on tax audit under Section 44AB of the...

7. The International Financial Services Centres Authority (IFSCA) issued the 'International Financial Services Centre Authority (Informal Guidance) Scheme, 2024' to provide...

8. Revenue recognition as per AS-7 - guidance note was issued in 2012 and could not have been the basis for the additions made. Under such circumstances, in our opinion,...

9. Revenue recognition - Acceptability of correct method of accounting as per accounting standard and revised guidance note - As stated earlier the Accounting standards and...

10. The RBI issued instructions on Money Changing Activities u/s 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. FFMCs/non-bank ADs Category-II must maintain a...

11. Nature of selling and marketing expenses - Revenue or Capital Expenditure - Treatment to the expenses while recognition of income - Guidance Note on Accounting for Real...

12. Deduction on account of lease equalization charges from lease rental - No force in the contentions of the Revenue that the accounting standards prescribed by the...

13. Disallowance on account of lease equalization – if the annual leasing charge is equivalent to 30% of the value of leased assets, the assessee would debit its P&L account...

14. Addition made u/s 145A of the Income Tax Act – Excise duty excluded in the closing stock – After necessary adjustments made by the assessee, in pursuance of the guidance...

15. The IBBI has issued a notification amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016, specifically modifying Schedule-I, Form H...