https://www.taxtmi.com/caselaws?id=762440 ITAT Hyderabad set aside CIT(A)'s order granting relief to assessee on surrogacy revenue recognition, finding the appellate authority relied on incorrect facts about pending SC proceedings. The tribunal noted advances received from foreign nationals for surrogacy services in past years remained liabilities due to government circular debarring foreign nationals from surrogacy. Matter remanded to AO to verify whether assessee refunded amounts to foreign nationals, recognized income from completed procedures, or treated advances as income in subsequent years due to cessation of liability. en-us Tue, 30 Apr 2024 00:00:00 +0530 Sat, 30 Nov 2024 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762440 ITAT Hyderabad set aside CIT(A)'s order granting relief to assessee on surrogacy revenue recognition, finding the appellate authority relied on incorrect facts about pending SC proceedings. The tribunal noted advances received from foreign nationals for surrogacy services in past years remained liabilities due to government circular debarring foreign nationals from surrogacy. Matter remanded to AO to verify whether assessee refunded amounts to foreign nationals, recognized income from completed procedures, or treated advances as income in subsequent years due to cessation of liability. Case-Laws Income Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762440