Accrual of income - real income - since the basis, modality and ...

Assessing Officer's Income Addition Overruled for FY 2015-16; Accurate Reporting by Assessee Confirmed for AY 2016-17.

June 26, 2021

Case Laws Income Tax AT

Accrual of income - real income - since the basis, modality and the amount on which the capacity charges, deemed generation charges and capacity Index Incentives were to be determined/ quantified, it was difficult for the assessee to ascertain the correct and actual amount of charges recoverable from UPCL. - Deemed Generation Charges and capacity index incentive charges during the FY 2015-16 relevant to AY 2016-17. Once the correct amount of income has already been offered to tax in AY 2016-17, we find no merit in the addition made by the AO in the present order of assessment. - AT

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Accrual of income - real income - since the basis, modality and ...

Assessing Officer's Income Addition Overruled for FY 2015-16; Accurate Reporting by Assessee Confirmed for AY 2016-17.

June 26, 2021

Case Laws Income Tax AT

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