https://www.taxtmi.com/caselaws?id=68838 The Income-tax Appellate Tribunal (ITAT) ruled in favor of the assessee, holding that the one-time service charges did not accrue fully during the accounting year and should be spread over the period services were rendered. The ITAT accepted the assessee's use of the proportionate completion method of accounting, consistent with ICAI standards. The Tribunal disagreed with the CIT(A)'s assessment year determination, directing computation of income based on the recognized accounting method. As a result, additions to the assessee's income were to be deleted. en-us Thu, 17 May 1990 00:00:00 +0530 Sat, 02 Apr 2011 10:24:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68838 The Income-tax Appellate Tribunal (ITAT) ruled in favor of the assessee, holding that the one-time service charges did not accrue fully during the accounting year and should be spread over the period services were rendered. The ITAT accepted the assessee's use of the proportionate completion method of accounting, consistent with ICAI standards. The Tribunal disagreed with the CIT(A)'s assessment year determination, directing computation of income based on the recognized accounting method. As a result, additions to the assessee's income were to be deleted. Case-Laws Income Tax Thu, 17 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68838