Annual Maintenance Contracts - following Principle of matching ...

Income Tax

June 22, 2012

Annual Maintenance Contracts - following Principle of matching concept of income and expenses, assessee was justified in not recognizing revenue for the unexpired period of AMC - AT

View Source

← Previous Next →

Annual Maintenance Contracts - following Principle of matching ...

Income Tax

June 22, 2012

You may also like:

While computing annual value of property which has been let out - disallowance made on account of brokerage charges, legal expenses, maintenance charges and insurance...

While calculating annual value of the let out property, maintenance charges paid to the society by the assessee is admissible deduction from the annual let out value u/s 23(1)(b)

Disallowing the expenses on the reasoning that corresponding income was not offered to tax - matching principles of the accounting treatment - part of the activity of...

Reversal of profits declared in earlier years on account of estimated loss expected - valuation of work in progress (WIP) - The matching principle requires recording...

Management, Maintenance or Repair Service versus ‘Information Technology Services - software usage agreement - annual maintenance contract - period prior to 16/05/2008 -...

Speculative loss - Setting off the Brought Forward Losses – Proportionate Expenses - The department cannot take different stand on the year under consideration as...

Unascertained liability - allowability of future development expenses - expenditure related to the revenue already recognised by the assessee in the year under...

Receipts allocated towards Warranty period - Revenue cost matching principle - there is no requirement to disturb the methodology adopted by the assessee in accounting...

If expenditure incurred by the assessee are in the nature of annual maintenance contracts, then such expenditure certainly are in the nature of revenue expenditure - AT

Disallowance of prior period expenditure - Mercantile system - Matching principles of accounting - The assessee had claimed deduction for such expenses, citing a...

Quick Updates: