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 September 2014 Year 2014 This

Year of taxability of amount - in the case of construction ...

Income Tax

September 7, 2014

Year of taxability of amount - in the case of construction contracts, the assessee can follow either the project completion method or the percentage completion method - AT

View Source

 


 

You may also like:

  1. Recognition of income under constriction contract - A fact which has not been addressed by either the AO or the ITAT is that the Assessee follows the CCM and not the PCM.

  2. Characterisation of receipt - Forfeiture of advance received - till the assessment year 2015- 16, the amount of forfeiture is not liable to be taxed but will go only in...

  3. 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 -...

  4. Taxability of assessee, who falls within section 44BB of the Income Tax act – Appellant assessee himself referred the case prejudicial to it - decided against the assessee - HC

  5. Effect of ruling of Hon’ble AAR - Income taxable in India - Taxability of Software License - Once it is clear that the Revenue authorities only followed the ruling of...

  6. 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...

  7. Taxability of amount of loan waived by the financial institution on account of one time settlement - income either u/s. 28(iv) or u/s. 41(1) - Taking support from the...

  8. Disallowance of expenditure - The method followed by the assessee in the instant case amounts to claiming of the expenditure twice, i.e. in the year when the assessee...

  9. 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

  10. Provision for accounting and auditing expenses - If the assessee is following this practice consistently, then it is revenue neutral because every year this expenditure...

 

Quick Updates:Latest Updates