Provisions of Income Tax Act shall prevail over Accounting Standards: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT)has held that the provisions of the Income Tax Act, 1961 shall prevail when there is a dispute between the provisions of the Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI) and the provisions of the Act. While concluding the assessment against […]

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