Deferred revenue income - Capital Contribution from the members ...

Capital Contributions for Effluent Systems Taxable Over Five Years; One-Fifth Taxed Annually Starting Initial Receipt Year.

February 27, 2019

Case Laws Income Tax AT

Deferred revenue income - Capital Contribution from the members for setting of effluent - spread the capital contribution received over a period of five years beginning from the year in which such contributions were received initially - taxability of 1/5th of the amount is affirmed.

View Source

← Previous Next →

Deferred revenue income - Capital Contribution from the members ...

Capital Contributions for Effluent Systems Taxable Over Five Years; One-Fifth Taxed Annually Starting Initial Receipt Year.

February 27, 2019

Case Laws Income Tax AT

You may also like:

Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is...

Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

Reopening of assessment u/s 147 - non-disclosure of capital gain - sale of assets which were transferred to the partnership firm as capital contribution - since the...

Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

Expiry of the extended period of limitation - Whether the shows cause notice is barred by limitation of five years also? - In reference to the demand at hand, the entire...

Activity under the Joint Venture Agreement (JDA) - the activity undertaken by the appellant with its cost equivalence recorded in the books is nothing but capital...

Amendment of section 44AD. - computing profits and gains of business on presumptive basis - where an assessee declares profit for any previous year in accordance with...

Deduction u/s 80IC - if substantial expansion is undertaken, say, in 8th year by an assessee such an assessee would be entitled to 100% deduction for the first five...

Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fifth Amendment) Regulations, 2019

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

100% EOU - The condition of installation of capital goods within one year was, thus, made applicable both for goods which are imported duty free as well as procured duty...

The Appellate Tribunal considered the validity of reassessment proceedings u/s 147 regarding unexplained investment u/s 69 and whether it is taxable in the current...

Anti-dumping duty - sunset review - Expiry of old notification, extension of existing duty for further one year and rescinding of anti-duty notification on the...

Amendment of section 35. - to reduce the said weighted deduction from one hundred seventy-five per cent. to one hundred fifty per cent. from financial year 2017-2018 to...

Quick Updates: