SC: Confirmation of an Auction Sale Does Not Bar Judicial Scrutiny of Reserve Price Valuation  ||  Supreme Court Sets Aside Conviction of Four Men in a 1998 Gang Rape Case  ||  Supreme Court: Privy Purse Privileges of Princely Rulers are Not Enforceable Legal Rights  ||  Delhi HC: Repeated Court Summons May Distress and Re-Traumatize Child Sexual Assault Victims  ||  Jammu and Kashmir High Court: Labeling Someone as a Terrorist Associate Amounts to Defamation  ||  Delhi HC: Setting Aside or Altering a Judge’s Order by a Higher Court Doesn’t Affect Their Integrity  ||  Delhi High Court: Accused Cannot be Faulted For Smart Replies; Interrogator Must be Sharper  ||  Supreme Court: Belated Jurisdictional Challenge Impermissible After Participation in Arbitration  ||  Supreme Court: Failure to Prove Specific Overt Acts of Each Unlawful Assembly Member Not Fatal  ||  Supreme Court: Parental Salary Alone Cannot Determine OBC Creamy Layer Status    

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