Reversal of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2014
Revenue booked in 2012-13 200 Cr. Revenue Reversed in next year 15 cr because of price amendment.
Now its treatment with reference of any section/case law or anything.
Current Treatment -
Allowed in Tax computation
Shown as prior prior item in form 3CD
I know its contradicting, but done already.
Now its treatment with reference of any section/case law or anything.
Current Treatment -
Allowed in Tax computation
Shown as prior prior item in form 3CD
I know its contradicting, but done already.
10 December 2014
What ever you have done is right. You have to prove it is a genuine reversal to IT dept. Such reversal done in our power generating company accepted by IT.
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