Court Rules Taxing Estimated Steam Price as Income is Not Permissible; No Actual Income Accrued or Received.

Court Rules Taxing Estimated Steam Price as Income is Not Permissible; No Actual Income Accrued or Received. https://www.taxtmi.com/highlights?id=22222 Legally speaking since no income has accrued & neither any payment has actually been received by the appellant company, making addition in respect of estimate price of steam amounts to taxing of notional income which is not permissible. - AT en-us Wed, 25 Mar 2015 07:58:59 +0530 Wed, 25 Mar 2015 07:58:59 +0530 TaxTMI RSS Generator Court Rules Taxing Estimated Steam Price as Income is Not Permissible; No Actual Income Accrued or Received. https://www.taxtmi.com/highlights?id=22222 Legally speaking since no income has accrued & neither any payment has actually been received by the appellant company, making addition in respect of estimate price of steam amounts to taxing of notional income which is not permissible. - AT Highlights Income Tax Wed, 25 Mar 2015 07:58:59 +0530 https://www.taxtmi.com/highlights?id=22222