Aman Kapoor (student) 10 December 2014
here is the case -
in 2012-13 Revenue was booked for Rs 200 Cr and tax was paid accordingly.
in 2013-14 Revenue pertaining to the year 12-13 was reversed, beacuse of some price ammendment of Rs 15 Cr.
Now, in 13-14 what shall be the treatment of the 15Cr ?
Please let me now, with reference of any section/case law/noticification or anything.
What have been done -
In tax computation the amount has been allowed.
in form 3CD it has been shown as Prior Period Item.
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