https://www.taxtmi.com/caselaws?id=367054 The ITAT upheld the CIT (A)'s orders for A.Ys 2013-14 & 2014-15, dismissing Revenue's appeals. The decision favored the correct accounting treatment of capital contributions and subsidies, ruling contributions from consumers as capital receipts. The ITAT emphasized adherence to Accounting Standard-12 and Sec.43(1) of IT Act, and consistency with prior decisions. The judgment highlighted the significance of accurate income computation and upheld the assessee's approach, leading to the rejection of Revenue's appeals based on discrepancies in interpretation and accounting methods. en-us Wed, 12 Sep 2018 00:00:00 +0530 Fri, 14 Sep 2018 07:48:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367054 The ITAT upheld the CIT (A)'s orders for A.Ys 2013-14 & 2014-15, dismissing Revenue's appeals. The decision favored the correct accounting treatment of capital contributions and subsidies, ruling contributions from consumers as capital receipts. The ITAT emphasized adherence to Accounting Standard-12 and Sec.43(1) of IT Act, and consistency with prior decisions. The judgment highlighted the significance of accurate income computation and upheld the assessee's approach, leading to the rejection of Revenue's appeals based on discrepancies in interpretation and accounting methods. Case-Laws Income Tax Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367054