Revenue recognition - Profit offered during the survey ...

Income Tax

November 28, 2022

Revenue recognition - Profit offered during the survey proceeding - profit determined on the project undertaken by the assessee - Method of accounting - CIT has rightly approved the percentage completion method of Revenue recognition following the judicial precedents - AT

View Source

← Previous Next →

Revenue recognition - Profit offered during the survey ...

Income Tax

November 28, 2022

You may also like:

Addition based on survey proceeding - Unexplained stock of gold and silver jewellery - The statement given during the course of survey is not a statement on oath as...

Deduction u/s 80IB(11C) - additional income offered during survey - investment in building - excess cash found - while confirming the additions, deduction 80IB(11C) disallowed.

Addition on Statement recorded during the course of survey u/s 133A - assessee itself has accepted the stand disclosed during the course of survey - Profit embedded in...

Addition on account of lower gross profit in post survey period on sale made to sister concern confirmed since no commercial expediency was demonstrated - AT

Unexplained investment u/s. 69B and levy of tax u/s 115BBE - income towards difference in stock - excess stock found during the course of survey - AO directed to assess...

Tonnage Tax Reserve Account - Sec. 115VT - donation and prior period items cannot be added to the book profit for the purpose of determining the transfer of profit to TTRA - AT

Imposition of redemption fine and penalty - Overvaluation export of readymade garments - The CESTAT observed that, to ascertain the value of goods, the Revenue has done...

Penalty u/s 271(1)(c) - income declared duty survey - voluntary delcaration or not - it is not a case wherein a disclosure was voluntarily made, indeed the assessee...

Revision u/s 263 - income offered during the course of survey - Applicable rate of tax - the explanation offered by the assessee during the course of survey regarding...

Estimation of profit on the suppressed sale - Additional undisclosed income - the revenue has not brought any material on record suggesting that the assessee has made...

Quick Updates: