Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Highlights / Annotations
Home Highlights June 2019 Year 2019 This
← Previous Next →

Accrual of income - since parent Company was in severe financial crisis, the assessee could not receive any payment for a long time and even after delay of nearly four years received only 8.58% of the total claim - with respect to the larger amount, the bill/claim was for damages for pre mature termination of the contract which contracted party did not even accepted - Tribunal has correctly applied the real income theory, no income tax can be leviable

Income Tax
10-6-2019

Accrual of income - since parent Company was in severe financial crisis, the assessee could not receive any payment for a long time and even after delay of nearly four years received only 8.58% of the total claim - with respect to the larger amount, the bill/claim was for damages for pre mature termination of the contract which contracted party did not even accepted - Tribunal has correctly applied the real income theory, no income tax can be leviable

Continue Reading....

 

← Previous Next →

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map || ||