Recognition of income - scope of AS -9 - addition being the ...

Income Tax

June 22, 2022

Recognition of income - scope of AS -9 - addition being the amount already realized and shown as income in the FY 2013-14 as per arbitration award - It is for example nobody”s case that there is no accrual of a right to the assessee to any sum on the non-scheduling of agreed power by LANCO, and which, to the extent it does, is only for the current year. - Addition confirmed - AT

View Source

← Previous Next →

Recognition of income - scope of AS -9 - addition being the ...

Income Tax

June 22, 2022

You may also like:

Addition u/s 56(2)(vii)(b) - issues of shares at a price more than the FMV - from the year of application or allotment - Section was inserted vide Finance Act, 2013...

Stay orders - Recovery proceedings - The amount recovered from petitioner over and above the amount as per instructions, memoranda, circular towards demand of tax for...

Additions u/s 41(1) - There cannot be cessation of liability twice - Therefore, when as per Explanation (1) there would be cessation of liability in the FY 2012-13 i.e....

Taxability of amount received by the assessee on the basis of the award by the Arbitration Court - the amount was already shown by the assessee in the balance sheet as...

Assessment u/s 153A - undisclosed income - addition based on statement of the assessee - when there is no difference in rate of tax for both the assessment years, i.e....

Adjustment of excess amount of service tax paid - Rule 6(4A) of Service Tax Rules, 1994 - Adjustment cannot be denied on the ground that adjustment is possible only for...

Scope of arbitration award - Once it was found that the advance amount was paid for hypothecation of equipment and thereafter when the Arbitral Tribunal awarded the...

Nature of income - Award received as settlement through an arbitration award - Amount received for withdrawal of cases against the erstwhile partners and partnership...

Nature of receipt - damages received from DDA - loss of sources of income - Arbitration awards from DDA in respect of construction of houses - Receipt is capital in...

Addition u/s 68 - Cash credit surrendered - Income erroneously offered by the assessee in current AY - The above said credits/ amount were not received during the...

Quick Updates: