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Income concept

Why the Compensation for cancellation of a licence by the government resulting in cessation of business is revenue receipt... Since It is not ordinary course of business...


Subha N

Subha N

CA Inter

4K+

01-Oct-20 22:43

17

Answers (2)

Its specifically charged to income from business.


Suraj Lakhotia

Suraj Lakhotia

Admin

02-Oct-20 11:49

Its specifically charged to income from business.

okie sir.. Thank you..


Subha N

Subha N

CA Inter

4K+

02-Oct-20 12:16