https://www.taxtmi.com/caselaws?id=189207 The High Court allowed the appeal filed by the Revenue, vacated the orders of the Tribunal and the first appellate authority, and remanded the matter to the Assessing Officer for further examination of the accounting of price variation between the assessee and purchasers. The Court emphasized that the assessee can claim loss only in the year when purchasers credited their accounts, directing that subsequent assessments should be revised accordingly if the claim is found allowable in the next year or later years. en-us Thu, 21 Oct 2010 00:00:00 +0530 Sat, 31 Dec 2016 14:11:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189207 The High Court allowed the appeal filed by the Revenue, vacated the orders of the Tribunal and the first appellate authority, and remanded the matter to the Assessing Officer for further examination of the accounting of price variation between the assessee and purchasers. The Court emphasized that the assessee can claim loss only in the year when purchasers credited their accounts, directing that subsequent assessments should be revised accordingly if the claim is found allowable in the next year or later years. Case-Laws Income Tax Thu, 21 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189207