https://www.taxtmi.com/caselaws?id=221153 The case involved a dispute over the recognition of income by an assessee company for the assessment year 2008-09, specifically regarding revenue receivable from a project with M/s Varam Power Projects Pvt. Ltd. The CIT(A) ruled in favor of the appellant, emphasizing that the income had not been received or receivable during the relevant year due to uncertainties in collectability. Despite the appellant's adherence to Accounting Standard (AS-9), the Appellate Tribunal sided with the Assessing Officer, directing the disputed amount to be treated as income of the assessee company under the mercantile system of accounting. en-us Fri, 23 Nov 2012 00:00:00 +0530 Mon, 25 Feb 2013 10:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221153 The case involved a dispute over the recognition of income by an assessee company for the assessment year 2008-09, specifically regarding revenue receivable from a project with M/s Varam Power Projects Pvt. Ltd. The CIT(A) ruled in favor of the appellant, emphasizing that the income had not been received or receivable during the relevant year due to uncertainties in collectability. Despite the appellant's adherence to Accounting Standard (AS-9), the Appellate Tribunal sided with the Assessing Officer, directing the disputed amount to be treated as income of the assessee company under the mercantile system of accounting. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221153