Reversal of revenue


Aman Kapoor (student)     10 December 2014

Aman Kapoor
student 
 25 points

| My Other Post

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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