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        Case ID :
        Income Tax

        Where a term has not been defined under ICDS, nor under the Act, but has different interpretations given to it by the courts in tax cases, and in ICAI Accounting Standards, which interpretation would prevail while interpreting ICDS.

        19 August, 2017

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        Manual - Introduction - Income computation and disclosure standards (ICDS)

        Normally, since ICDS have been based on AS, the AS interpretation would apply, where such term/phrase has also been used in the ICDS. In other cases, the tax law interpretation given to it by the courts would prevail.

        However, where the specific provisions / requirements as per the current ICDS, in personal view of the author, is inconsistent with the earlier decisions or judgements, than the provisions of ICDS would prevail unless and until declared ultra-virus by the competent court or authority.

         

        Interpretation of undefined tax terms: ICDS provisions generally govern unless declared ultra vires by a competent authority. Where a term in the ICDS coincides with terminology in Accounting Standards, the AS interpretation generally applies; where no AS analogue exists, judicial tax-law interpretations ordinarily govern. If a current ICDS provision conflicts with earlier AS or judicial interpretations, the ICDS provision will prevail for tax computation and disclosure unless declared ultra vires by a competent court or authority.
                      Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Interpretation of undefined tax terms: ICDS provisions generally govern unless declared ultra vires by a competent authority.

                            Where a term in the ICDS coincides with terminology in Accounting Standards, the AS interpretation generally applies; where no AS analogue exists, judicial tax-law interpretations ordinarily govern. If a current ICDS provision conflicts with earlier AS or judicial interpretations, the ICDS provision will prevail for tax computation and disclosure unless declared ultra vires by a competent court or authority.


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