[aaykarbhavan] Advance sum received by service provider deemed as income only when services are rendered by it

Advance sum received by service provider deemed as income only when services are rendered by it

September 2, 2014[2014] 48 taxmann.com 59 (Hyderabad - Trib.)

IT : Where an assessee receives sum for some services but said services are not to be performed in current year but in subsequent year, till performance of service by assessee, assessee cannot be said to have received amount on accrual as assessee cannot exercise its dominion over receipt and, thus, said receipt should be taxed in year in which assessee would render service to payee

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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