Monday 5 August 2013

Surcharge on belated payment to electricity co. couldn't be deemed as accrued income if subsequently

IT: Where surcharge levied on belated payment of electricity bill was subject to protest/waiver and was not mandatorily enforceable, surcharge not realized did not considered as accrued receipt taxable as income of electricity company; payment made for wheeling/transmission charges cannot be considered as fees for technical service


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