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| The Tax Publishers2021 TaxPub(DT) 0749 (Guj-HC) : (2021) 432 ITR 0113 INCOME TAX ACT, 1961
Section (24)
Where assessee had offered tax in the subsequent year on professional fees as income, addition of the same in the year under consideration would amount to double addition which would be contrary to the provisions of law.
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Income - Chargeability - Professional fee taxed in subsequent year -
Revenue filed appeal against the order of Tribunal in not treating provisional fees as income during the year by ignoring section 199 of the Act read with rule 37BA of the Rules. Held: The impugned income has been offered to tax in the subsequent year has not been disregarded by the authorities below. Therefore, if any addition is made in the year under consideration, then it will amount to double addition which is against the provision of law.
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2011-2012
INCOME TAX ACT, 1961
Section 14A Rule 8D(2)(ii)
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