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Write Back of advances received to P&L account

This query is : Resolved 
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(Querist)
12 July 2010 A company having no other source of income writes back advance received from landlords? So is it taxable income? Will it be liable to pay income tax? Can the company write back the profit to reserve account instead of P&L account and claim it as non taxable?
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
12 July 2010 It is taxable and an assessee has to pay tax on that.
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