https://www.taxtmi.com/caselaws?id=372788 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO regarding the treatment of trial run income from a power plant as revenue. The Tribunal emphasized that the income should be capitalized, aligning with accounting standards and previous court decisions. The Revenue's appeal was dismissed, and the assessee's cross-objection on the reopening of the assessment was not argued and thus dismissed. The decision was pronounced on 16-11-2018. en-us Fri, 16 Nov 2018 00:00:00 +0530 Sat, 29 Dec 2018 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372788 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO regarding the treatment of trial run income from a power plant as revenue. The Tribunal emphasized that the income should be capitalized, aligning with accounting standards and previous court decisions. The Revenue's appeal was dismissed, and the assessee's cross-objection on the reopening of the assessment was not argued and thus dismissed. The decision was pronounced on 16-11-2018. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372788