Supreme Court: Banks Cannot Invoke IBC Against Debtors For Builder-Linked Loans  ||  Supreme Court: Non-Disclosure of Failed Candidates’ Marks Does Not Imply They Passed Exams  ||  Supreme Court: Murder Accused Cannot Inherit Property of the Person Allegedly Killed  ||  Supreme Court: Delay in Deposit Does Not Automatically Cancel Contracts under Specific Relief Act  ||  SC: Railways is Treated as a Consumer under the Electricity Act, Not a Distribution Licensee  ||  Bom HC: Genuine Residents Cannot be Denied Relief Due to Aadhaar Deactivation or Biometric Mismatch  ||  Punjab & Haryana High Court: Raid on Rajinder Gupta’s Factory Soon After He Joined BJP From AAP  ||  Madhya Pradesh HC: Delay Can Be Condoned under Limitation Act Where Statute Has No Express Bar  ||  Cal HC Upholds PILs on Great Nicobar Project, Noting Alleged FRA Violations and Tribal Vulnerability  ||  Calcutta HC: Vodafone Idea Must Obtain Copyright Society Licence to Use Songs as Caller Tunes    

ITAT, Chennai: Subscription Money received From Customers Shall be Treated as Deferred Income - (29 Apr 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Chennai has ruled that the subscription monies received in advance by the Company shall be treated as deferred income and offered to tax on daily basis which is correct methodology of revenue credit under mercantile system of accounting.

Tags : INCOME TAX APPELLATE TRIBUNAL   SUBSCRIPTION MONIES   DEFERRED INCOME   METHODOLOGY  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved