https://www.taxtmi.com/caselaws?id=341794 In ITA No.4136/Mum/2015 (A.Y.2011-12), the Revenue's appeal was dismissed as the tax effect was below the prescribed limit. In ITA No.4135/Mum/2015 (A.Y.2009-10), the Tribunal upheld the assessee's position that income recognition in the subsequent year was valid, citing the CIT vs. Excel Industries Ltd. precedent. The Tribunal found no fault in the assessee's actions as there was no loss to the Revenue due to the consistent tax rates in both years. Consequently, both appeals of the Revenue were dismissed on 15/03/2017. en-us Wed, 15 Mar 2017 00:00:00 +0530 Mon, 17 Apr 2017 08:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341794 In ITA No.4136/Mum/2015 (A.Y.2011-12), the Revenue's appeal was dismissed as the tax effect was below the prescribed limit. In ITA No.4135/Mum/2015 (A.Y.2009-10), the Tribunal upheld the assessee's position that income recognition in the subsequent year was valid, citing the CIT vs. Excel Industries Ltd. precedent. The Tribunal found no fault in the assessee's actions as there was no loss to the Revenue due to the consistent tax rates in both years. Consequently, both appeals of the Revenue were dismissed on 15/03/2017. Case-Laws Income Tax Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341794