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Income Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

Advance money in books of accounts - accrual of income – the ...


Court Rules Advance Money as Taxable Income if Repayment Liability Ceases in Books of Accounts.

July 2, 2014

Case Laws     Income Tax     HC

Advance money in books of accounts - accrual of income – the amount found credited in the books of account of the assessee, the liability to pay back the same had ceased to exist - taxable - HC

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