Amount declared as Advance in year under Consideration and offered to Tax in Subsequent year can’t be again added to Income of Assessee: ITAT [Read Order]

By Sunayana Dhal - On October 13, 2023 8:30 am - 2 mins read

Amount declared - Advance in year - Consideration - offered - Tax in Subsequent - Income of Assessee - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the amount declared as an advance in the year under consideration and offered to tax in the subsequent year cannot be again added to the income of the assessee as it will result in double taxation. The assessee is engaged in the business…

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