Disputed receipts taken as income in next assessment year
This query is : Resolved
B. Ravi Kumar
(Querist)
11 January 2018
Amount received in FY 2015-16 is a disputed amount and same is taken as income in the next year and offered to tax. The income is not escaped but due to dispute same is offered to tax in next year. the case is covering under tax audit.
Kindly advise on consequence on same.
Whether it will come under concealment or not?
Kindly advise on consequence on same.
Whether it will come under concealment or not?
11 January 2018
Revenue shifting is concealment. Take precautions now itself to defend in assessment proceedings.
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