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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Disallowance of advance billing - accrual of income on ...


Advance Billing Disallowed in Income Tax: Distinguishing Advance Payments from Accrued Income Affects Tax Timing and Recognition.

November 8, 2013

Case Laws     Income Tax     AT

Disallowance of advance billing - accrual of income on progressive billing - The amount due to the customers as shown by the assessee thus was nothing but receipt of advance before accrual of income - AT

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