Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2014 Year 2014 This

There is nothing wrong on the part of the assessee in not ...

Case Laws     Income Tax

August 8, 2014

There is nothing wrong on the part of the assessee in not considering the amount representing work advances as income accruing or arising to it until a regular bill for work done is submitted and accepted by its clients - AT

View Source

 


 

You may also like:

  1. The assessee, following the mercantile system of accounting, had treated Annual Maintenance Charges (AMC) collected in advance from customers for lift maintenance as a...

  2. Demand of service tax on advance receipt - it provides for Advance cum security and in turn the assessee is liable for equal amount of Performance security bank...

  3. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

  4. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

  5. The Appellate Tribunal considered the disallowance of advance written off as an expense u/s 36(2). The Assessing Officer argued it should be allowable u/s 37 due to a...

  6. Assessee followed system of regularly showing mobilization account and advances received, offering income against bills in subsequent years. Revenue did not previously...

  7. Levy of GST - time of supply - Mobilization Advance received - On reading the Receipt voucher no RTGS 223033 dated 8-2-21, the recipient deducted TDS under Section 51...

  8. Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his...

  9. Addition u/s 56(2)(ix) - Receipt of advances against the property - In factual matrix, the advance amount was never be forfeited or adjusted in the capital account of...

  10. Allowability of Interest on mobilization advance - amount was received for the execution of work contract - once the said amount was utilized for the execution of the...

  11. Disallowance of interest u/s 36(1)(iii) - The AO had disallowed the interest claimed by the assessee on advances made to its Director, citing a lack of nexus between the...

  12. Eligibility of relief u/s 89 r.w. Rule 21A of I.T. Rules - Amount to be spread over the years including future years - compensation received by the assessee as only...

  13. The Appellate Tribunal addressed the issue of refund of excess taxes claimed by the Assessee due to a difference in the amount of TDS and Advance Tax as computed by the...

  14. Addition on account of mismatch in the interest amount with form 26AS - The transaction shown in form 26AS cannot be taken as the gospel truth that it represents the...

  15. Taxation of software reimbursements as Royalty - assessee strongly contends that reimbursements sought by the assessee represent recovery of expenses incurred by it, on...

 

Quick Updates:Latest Updates