https://www.taxtmi.com/caselaws?id=377515 The Tribunal upheld the revenue authorities' decision to add Rs. 1,50,84,240 to the assessee's total income. It found that the assessee's method of revenue recognition based on AS-9 did not align with the mercantile system of accounting required by Section 145 of the Income Tax Act. The Tribunal clarified that potential double taxation of income would not occur if the assessee could demonstrate that income recognized in a later assessment year was not previously accounted for due to AS-9. The appeal was dismissed on February 8, 2019. en-us Fri, 08 Feb 2019 00:00:00 +0530 Fri, 26 Apr 2019 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377515 The Tribunal upheld the revenue authorities' decision to add Rs. 1,50,84,240 to the assessee's total income. It found that the assessee's method of revenue recognition based on AS-9 did not align with the mercantile system of accounting required by Section 145 of the Income Tax Act. The Tribunal clarified that potential double taxation of income would not occur if the assessee could demonstrate that income recognized in a later assessment year was not previously accounted for due to AS-9. The appeal was dismissed on February 8, 2019. Case-Laws Income Tax Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377515