https://www.taxtmi.com/caselaws?id=277526 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition of unaccrued revenue from the sale of prepaid cards. The Tribunal emphasized that revenue recognition should align with the obligation to provide services, especially when services extend beyond the sale period of prepaid cards. Citing industry practices and previous favorable ITAT orders, the Tribunal concluded that income should be recognized when it accrues to the Assessee. Therefore, the Assessee's position was supported, and the Revenue's appeal was rejected. en-us Tue, 23 May 2017 00:00:00 +0530 Fri, 07 Dec 2018 06:50:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277526 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition of unaccrued revenue from the sale of prepaid cards. The Tribunal emphasized that revenue recognition should align with the obligation to provide services, especially when services extend beyond the sale period of prepaid cards. Citing industry practices and previous favorable ITAT orders, the Tribunal concluded that income should be recognized when it accrues to the Assessee. Therefore, the Assessee's position was supported, and the Revenue's appeal was rejected. Case-Laws Income Tax Tue, 23 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277526