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 June 2016 Year 2016 This

Accrual of income - the income was not booked as per Accounting ...

Income Tax

June 22, 2016

Accrual of income - the income was not booked as per Accounting Standard-9(AS-9) issued by the ICAI - since the tax rates applicable to the company both in assessment year were the same, the adjustment made by the Department was revenue neutral - No addition - AT

View Source

 


 

You may also like:

  1. MAT - Book profit - Amortization of lease hold land has been made as per accounting standard 10 of ICAI and amortization of land unclassified as per Accounting Standard...

  2. Accrual of interest expenditure / income - CIT(A) deleted the disallowance u/s 36(1)(iii) - Where there is no certainty of collection, revenue cannot be said to be...

  3. Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was...

  4. Income Taxes - Ind AS-12 of the Companies (Indian Accounting Standards) Rules, 2015 as amended

  5. Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

  6. Claim of deduction - lease equalization charge - After referring to the Guidance Note on Accounting for Leases, revised in the year 1995, Supreme Court held that method...

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

  8. Accrual of income - determination of income out of the receipt not disclosed in the books of account - when the receipts were out of the books of accounts, the payment...

  9. RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

  10. The assessee (Co-operative Bank) was justified in not recognizing interest income from non-performing assets in consonance with the notification issued by the RBI and...

  11. Income recognition - income accrued - assessee received consultancy fees from UG Hospitals Pvt. Ltd.for the term of five years - assessee’s reliance of AS-9 issued by...

  12. Disallowance on account of extraordinary items written off - It is not in dispute that the assessee had indeed written off the said abandoned project expenditure in its...

  13. Procedure, Formats and Standards of issue of Permanent Account Number (PAN)

  14. Entitled to deduction of lease equalization charge - There is no force in the contentions of the Revenue that the accounting standards prescribed by the Guidance Note...

  15. Revision u/s 263 - Correct source of income - special rate of tax u/s. 115BBE - As per CIT income of the assessee should have been assessed as unexplained cash credit,...

 

Quick Updates:Latest Updates