08 December 2016
My assessee is a works contractor. He received certain advance payment after deduction of Tds. I termed the advance received as ''income received but not accrued'' and neither showed the amount as income nor claimed any expenditures in that particular year. The same was shown as income in next financial year.
Further, during scrutiny the Income tax officer added back the whole advance amount received during the year declaring it contravention of Section 198. Kindly guide me how and on what grounds relief can be plead for?
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