Amount declared as Advance in year under Consideration and offered to Tax in Subsequent year can’t be again added to Income of Assessee: ITAT [Read Order]

By Sunayana Dhal - On October 13, 2023 8:30 am - 2 mins read
Amount declared - Advance in year - Consideration - offered - Tax in Subsequent - Income of Assessee - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the amount declared as an advance in the year under consideration and offered to tax in the subsequent year cannot be again added to the income of the assessee as it will result in double taxation. The assessee is engaged in the business…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader