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Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Accrual of income - Income from advance license benefit - income ...

Income Tax

December 9, 2014

Accrual of income - Income from advance license benefit - income does not accrue in the year of export but in the year in which the imports are made - HC

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  3. Export effected by the petitioner prior to the date of issuance of Advance Licence cannot be considered in fulfillment of Export Obligation under the Advance Licence - HC

  4. 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

  5. EXIM - Shipping bill - Conversion from ‘Advance Licence to DEPB Scheme’ - Request made after more than one year of export - conversion allowed - AT

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  7. Export of Services Rules, 2005 – CBEC Clarifies the scope of the term “used outside India” and “accrual of benefit” for claiming benefit of export of services

  8. Advance Licence scheme - Imposition of penalty - suspension of the IEC - The petitioner has not availed any benefit under the Advance Licence Scheme. Once the petitioner...

  9. Denial of benefit of export in case of Deemed export - Notification No. 44/2001-CE (NT) dated 26.06.2001 - Proviso to the said notification have wider amplitude, to...

  10. Non-refundable portion of Advance Fee received for coaching - Income/ Revenue Recognition - only that part of the receipt is taxable in this year which accrued to the...

 

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