Accrual of income - it cannot be said that income has actually ...

Income Tax

July 29, 2015

Accrual of income - it cannot be said that income has actually accrued to the assessee in one year even though it might have received it in one year. Mere receipt does not ensure accrual unless an equivalent part of the agreed services by the receiver is rendered. - AT

View Source

← Previous Next →

Accrual of income - it cannot be said that income has actually ...

Income Tax

July 29, 2015

You may also like:

Accrual of income - Taxability of advance license benefit receivable - assessee could not contend while filing the return of income that such income should not be...

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

Accrual of income - non realization of ‘Provision for surcharge’ - even though the assessee has been following mercantile system of accounting, since it is not real...

Manpower supply service or IT service - classifiation - what was provided was actually ‘manpower supply service’, even though the assessee claimed it under ‘information...

Accrual of income - Interest on FDs under Restraint Order - the lower authorities has committed an error in bringing the interest accrued on FD which is subject to...

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

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

Accrual of income - Though the payment was not received by the assessee during the year under consideration, however, once the said payment was accrued and become due in...

Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva...

Disallowance of provision for professional cost - Accounts of the company are audited by reputed CA firm and therefore it cannot be said that it is an inadvertent error....

Quick Updates: