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Income Tax - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Difference in gross receipts as per Form no. 26AS and books of ...


Court Rules Discrepancy in Gross Receipts Not Grounds for Additions; Taxpayer's Accounting Method Deemed Acceptable.

March 25, 2023

Case Laws     Income Tax     AT

Difference in gross receipts as per Form no. 26AS and books of accounts of the assessee - The assessee is following the method of accounting as per which it was accounting service charges received from the clients towards rendering various services as their income and reimbursement of expenses is squared off in the parties account. - Additions not permissible - AT

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