https://www.taxtmi.com/caselaws?id=238616 The Tribunal dismissed the Revenue's appeal against the deletion of the addition made by the Assessing Officer, affirming the CIT(A)'s decision. The Tribunal found that the assessee's scheme of recognizing income in subsequent years based on services rendered was valid, adhering to the mercantile system of accounting. It concluded that the income accrued only when services were provided, not at the receipt of advances, rejecting the Revenue's argument of tax deferral. The Tribunal upheld the CIT(A)'s order, emphasizing proper documentation and adherence to accounting principles. en-us Fri, 20 Sep 2013 00:00:00 +0530 Wed, 23 Oct 2013 22:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238616 The Tribunal dismissed the Revenue's appeal against the deletion of the addition made by the Assessing Officer, affirming the CIT(A)'s decision. The Tribunal found that the assessee's scheme of recognizing income in subsequent years based on services rendered was valid, adhering to the mercantile system of accounting. It concluded that the income accrued only when services were provided, not at the receipt of advances, rejecting the Revenue's argument of tax deferral. The Tribunal upheld the CIT(A)'s order, emphasizing proper documentation and adherence to accounting principles. Case-Laws Income Tax Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238616