Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Page of 4811
Press 'Enter' after typing page number.
5961 to 5980 of 96208 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Where an assessee claims that receipts appearing in Form 26AS...
Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examination.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Where an assessee claims that receipts appearing in Form 26AS relate to an earlier year under accrual-based recognition, the crucial question is whether the same income was already taxed in that year, because double taxation of the same receipt is impermissible. The Tribunal found that the reconciliation between bills raised in the preceding year and current-year Form 26AS entries required factual verification. As adequate opportunity had not been given before the AO, and the appellate authority had not properly examined the earlier-year material, the matter was remitted for de novo verification. The assessee was to be given a reasonable opportunity to substantiate the reconciliation with supporting third-party evidence.
Where an assessee claims that receipts appearing in Form 26AS relate to an earlier year under accrual-based recognition, the crucial question is whether the same income was already taxed in that year, because double taxation of the same receipt is impermissible. The Tribunal found that the reconciliation between bills raised in the preceding year and current-year Form 26AS entries required factual verification. As adequate opportunity had not been given before the AO, and the appellate authority had not properly examined the earlier-year material, the matter was remitted for de novo verification. The assessee was to be given a reasonable opportunity to substantiate the reconciliation with supporting third-party evidence.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
