Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Page of 4826
Press 'Enter' after typing page number.
1641 to 1660 of 96508 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 4826 
Join Channel 
