2019 (8) TMI 192 - SCH - Income Tax

Accrual of income - accounting treatment in respect of prepaid cards - Rendering of Services - Income recognition - Accounting standards - amount received on sale of prepaid cards to the extent of unutilized talk time - assessee was engaged in the business of providing basic telecom services in the State of Rajasthan and had both prepaid and postpaid subscribers - HELD THAT - No reason to interfere in these matters. The special leave petitions are, accordingly, dismissed. Pending application(s), if any, shall stand disposed of.

Summary

The Supreme Court dismissed the special leave petitions as they did not see any reason to interfere in the matters. Pending applications were disposed of, and the delay was condoned.