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Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

Accrued or a contingent liability - the liability of the ...

Income Tax

August 21, 2017

Accrued or a contingent liability - the liability of the Assessee to pay enhanced licence fees for the AYs in question was an accrued liability which arose in the year in which demand was raised - HC

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  2. Enhanced Compensation – Interest on enhanced compensation - Waiver of Interest - assessee was entitled for waiver of interest till the date of receipt of enhanced...

  3. 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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  8. Disallowance of wage arrears u/s 40a(ia) - contingent liability or not - non deduction of TDS - assessee created an adhoc provision for wage arrears - Liability has been...

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