Expenditure written back next year
This query is : Resolved
17 December 2011
Sir/Madam
In one of the cases the company taken service tax paid on transportation as an expenditure during the last year. But during next year the company decided to take cenvat credit of above and hence credited to prior period item.
I would like to ask whether this will be added to income in the current year ?
What else ?
Kindly let me know your valuable opinions.
Thanking you
In one of the cases the company taken service tax paid on transportation as an expenditure during the last year. But during next year the company decided to take cenvat credit of above and hence credited to prior period item.
I would like to ask whether this will be added to income in the current year ?
What else ?
Kindly let me know your valuable opinions.
Thanking you
18 December 2011
It is taxable u/s 41 i.e. deemed income
Message likes :
1 times
19 December 2011
Is there any possible way to get away with it...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Sec 44ada applicable only or both
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- RELATED TO TRIBUNAL APPEAL
- Portuguese Civil Code IT Return
- LIC maturity claim whether taxable
- HOUSING LOAN ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
