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1. Claim of deduction - lease equalization charge - After referring to the Guidance Note on Accounting for Leases, revised in the year 1995, Supreme Court held that method...

2. Rejection of books of accounts - recognition of income - Development of housing project - assessee has not followed percentage completion method as per the Guidance Note...

3. Allowable business expenditure u/s 37 - AO was in error in taking all the selling and market expenses to WIP ignoring the guidance note of ICAI as regards accounts of...

4. Determination of turnover for tax audit u/s 44AB - The A.O. in the assessment order has referred to share trading guidance note on tax audit under Section 44AB of the...

5. GST implementation - Guidance Note for Importers and Exporters

6. Revenue recognition - Acceptability of correct method of accounting as per accounting standard and revised guidance note - As stated earlier the Accounting standards and...

7. Revenue recognition as per AS-7 - guidance note was issued in 2012 and could not have been the basis for the additions made. Under such circumstances, in our opinion,...

8. Nature of selling and marketing expenses - Revenue or Capital Expenditure - Treatment to the expenses while recognition of income - Guidance Note on Accounting for Real...

9. TP Adjustment - MAM selection - Selection of CPM or TNMM as MAM - the assessee has followed CPM for benchmarking the domestic transactions between eligible unit and...

10. Penalty u/s 271(1)(c) - treating capital expenditure as revenue expenditure in the absence of any revenue recognition - t the assessee demonstrated that it had acted...

11. Entitled to deduction of lease equalization charge - There is no force in the contentions of the Revenue that the accounting standards prescribed by the Guidance Note...

12. Expenditure u/s 37 - As per the guidance note of ICAI on accounting for real estate transactions as revised in the year 2012, selling overheads and indirect cost...

13. Deduction on account of lease equalization charges from lease rental - No force in the contentions of the Revenue that the accounting standards prescribed by the...

14. Notwithstanding the fact that the opinion of the Institute of Chartered Accountants of India (ICAI) was expressed in the guidance note, which had not attained a...

15. Disallowance on account of lease equalization – if the annual leasing charge is equivalent to 30% of the value of leased assets, the assessee would debit its P&L account...