Answers On Topic: One time deposit
  Addition on account of one time deposit for maintenance
Assessee is promoter and Developers. During the course of its business accepted the one time maintenance from the  unit purchaser and disclosed as deposit liability in the audited financial statement. on the completion of project the amount is handed  over to society or apartment .This policy and method has been followed by the assessee since last 10 years and also accepted in the assessment U/SEc. 143(3) of the Act.  Under the Service Tax Act as well as under GST Act this amount is accepted as deposit and no tax has been levied. Assessee submitted that it is not business receipts…


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