Accrual of income - effect of addendum of agreement - merely ...

Case Laws Income Tax

April 22, 2019

Accrual of income - effect of addendum of agreement - merely because in the original agreement, the parties had agreed to a higher sum by way of sale consideration, such amount cannot be stated to have accrued to the assessee, ignoring later developments reducing consideration due to slum in the business - income accrued based on revised terms.

View Source

← Previous Next →

Accrual of income - effect of addendum of agreement - merely ...

Case Laws Income Tax

April 22, 2019

You may also like:

TP Adjustment - Adjustment in the transaction of payment of royalty - Royalty payments made by the subsidiary for using certain intangible properties and services. - The...

Arbitration agreement - Applicability on the party who is not the signatory of the agreement - Scope of Section 9 of the Arbitration and Conciliation Act, 1996 - The...

Validity of SCN - Whether the corrigendum/addendum to the show-cause notice is valid in law? - The addendum supplements the allegations in the original show-cause notice...

Accrual of income - An income from the MOU/lease agreement cannot be said to have accrued or arisen or become legally due to assessee till the time the underlying...

Reference of dispute between the parties to the Arbitrator - the dispute is with respect to sharing of the rent of the leased space and it can be said that the...

Clearance of goods under India’s Trade Agreements without original Certificate of Origin - Circular

Arbitration agreement - group company - binding of the agreement on the subsidiary company - A non-signatory can be bound by an arbitration agreement on the basis of the...

Income recognition - No doubt, the Income-tax Act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or...

Existence of arbitration agreement between the parties - This Court is of the opinion that merely because the proposal forwarded on behalf of the respondents, by letter...

Accrual of interest income - Assessee claims that no real income accrued to the company and merely as the assessee is following mercantile system of accounting it does...

Accrual of income - Cancellation of recovery of the interest - Where the income can be said not to have resulted at all, there is obviously neither accrual nor receipt...

Accrual of income - taxability of advances received - Merely because an amount has been entered into in assessee’s book, is not conclusive proof that income has accrued - AT

TDS u/s 195 - The agreement between the parties can be specific and its length or pages does not matter. Merely on the length of the agreement, the AO cannot overlook...

Accrual of income towards retention money - the assessee had no right to claim any part of the retention money till the verification of satisfactory execution of the...

Validity of assessment order - division of contract into two parts i.e. supply of goods and works contract - the agreement, which was arrived between the parties, did...

Quick Updates: