https://www.taxtmi.com/caselaws?id=345194 The ITAT allowed the assessee's appeal, directing the AO to delete the disallowance of Rs. 81,22,83,000/-. The decision was based on the consistent treatment of upfront expenses and income in the return of income, the accrual of expenses during the year, and the Supreme Court's ruling in Taparia Tools Ltd vs JCIT. The ITAT found that the assessee's method of claiming expenses was in line with the provisions of the Income Tax Act, despite the different treatment in the books of accounts due to RBI guidelines. en-us Wed, 07 Jun 2017 00:00:00 +0530 Wed, 02 Aug 2017 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345194 The ITAT allowed the assessee's appeal, directing the AO to delete the disallowance of Rs. 81,22,83,000/-. The decision was based on the consistent treatment of upfront expenses and income in the return of income, the accrual of expenses during the year, and the Supreme Court's ruling in Taparia Tools Ltd vs JCIT. The ITAT found that the assessee's method of claiming expenses was in line with the provisions of the Income Tax Act, despite the different treatment in the books of accounts due to RBI guidelines. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345194