The provision of Section 43B overrides the method of accounting ...

Income Tax

June 2, 2016

The provision of Section 43B overrides the method of accounting consistently followed and provides for the deduction of statutory liabilities in the year of payment irrespective of the year in which the liability is incurred. - AT

View Source

← Previous Next →

The provision of Section 43B overrides the method of accounting ...

Income Tax

June 2, 2016

You may also like:

Addition u/s 43B - Method of accounting - unpaid statutory dues of service tax, Excise and PF by changing the method of accounting - The assessee followed the exclusive...

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

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

Method of accounting u/s 145 - construction activity - PCM followed by the assessee was the right method of accounting for determining the taxable income of the assessee - AT

Method of accounting – Chit Fund Company allowed to follow completed contract method when dividend to the foreman has to come only from out of the discount - HC

Interest paid to bank disallowed – Applicability of section 43B - merger of non-scheduled bank with scheduled bank - e provisions of section 43B clearly apply after the merger - AT

Disallowance u/s 43B – the assessee has retained the money from the suppliers on the pretext that it will make the payment to the Government - provision of section 43B...

Disallowance u/s 43B - he amount in question as service tax is covered by the provisions of section 43B. - AT

Provision for leave salary – The deduction u/s 43B(f) cannot be allowed on the making of a mere provision unless the amount is actually paid - AT

Addition u/s.56(2)(vii)(b) - share premium - difference between the issue price and the actual share price determined by the AO - AO has changed the method of valuation...

Quick Updates: