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1. Revenue recognition based on Accounting Standard (AS) 7 for advance received from customers under contracts - assessee followed Percentage Completion Method (PCM)...

2. Disallowing the expenses on the reasoning that corresponding income was not offered to tax - matching principles of the accounting treatment - part of the activity of...

3. Management, Maintenance or Repair Service versus ‘Information Technology Services - software usage agreement - annual maintenance contract - period prior to 16/05/2008 -...

4. Co-operative Housing Society declared income from maintenance charges under 'Income from other sources' with deficit of Rs. 13,86,671/-. Rental and interest income also...

5. Termination of contract - non-performance of the contract - the termination of the contract was illegal and without following due procedure as required under the...

6. Capital vs revenue expenditure – Following the matching concept, the materiality concept and Accounting Standard AS 26 in the assessee's case before us, the amount of Rs....

7. Disallowances of interest and capitalizing in inventory of work in progress - matching concept - it is an admitted position that the assessee has not offered revenue...

8. Unascertained liability - allowability of future development expenses - expenditure related to the revenue already recognised by the assessee in the year under...

9. CENVAT Credit - input services - annual maintenance of lifts installed in the building - when the repair, maintenance, etc. is the part of a contract where construction...

10. Repairs and maintenance service - Composite service or not - In any annual maintenance contract, the spare parts etc., which have been used in the course of maintenance...

11. Scope of contract - transfer of software that has come into existence - The pith and substance of the contract or true nature of the transaction shows that the contract...

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

13. Income earned by a housing cooperative society from interest on fixed deposits and rental income is eligible for set-off against maintenance expenses. The interest...

14. Input Tax Credit - GST paid on goods purchased for the purpose of construction & maintenance of Warehouse - no ITC of GST paid on goods purchased for the purpose of...

15. If expenditure incurred by the assessee are in the nature of annual maintenance contracts, then such expenditure certainly are in the nature of revenue expenditure - AT