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Income Tax - Highlights / Catch Notes

Home Highlights February 2015 Year 2015 This

Accrual of income - treatment given by the assessee in its books ...

Income Tax

February 17, 2015

Accrual of income - treatment given by the assessee in its books of accounts is not conclusive or decisive so as to bring it into tax and in order to be computed in accordance with the provisions of the Act - AT

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  9. Disallowance of Bid loss - merely because a different treatment was given in the books of accounts cannot be a factor which would deprive the Assessee from claiming the...

  10. Addition u/s 69C – Unexplained expenditure - only because parties has given a different accounting treatment in its books of account, it cannot be said that the assessee...

  11. Once the expenditure is found to be allowable as revenue expenditure as per provisions of the Income Tax Act,1961, the same are to be allowed as revenue expenditure...

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