Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities  ||  Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged  ||  Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act  ||  Delhi HC: Unmarried Granddaughter’s Limited Estate Can Become Absolute if Pre-Existing Right  ||  MP High Court: Labour Laws are Beneficial, and Hyper-Technical Limitation Views Must be Avoided  ||  Calcutta HC: Supplementary Chargesheet Filed Late in NDPS Trial is Valid if Based on Fresh Evidence  ||  Delhi High Court: Co-Accused’s Abscondence Can Be a Relevant Factor in Granting NDPS Bail  ||  P &H HC: Unfavourable Orders Cannot Justify Trial Transfer; Courts Must Prevent Forum Hunting  ||  SC: UGC Regulations Override State Law on Forming Search Committees For University VC Appointments  ||  SC: State Cannot Deny Regularisation to Long-Serving Contract Staff Appointed Through Due Process    

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