https://www.taxtmi.com/caselaws?id=279685 The ITAT Chennai ruled in favor of the appellant, directing the Ld.AO to delete the addition of &8377; 18,94,96,500/- for the assessment year 2013-14. The court found merit in the appellant's argument that revenue need not be recognized in the presence of substantial uncertainty in collection, as per Accounting Standard 9. The Ld.CIT(A)'s decision was overturned based on the appellant's claim and the specific circumstances of the case, where the appellant had taken legal action to recover the amount in question. en-us Wed, 13 Jun 2018 00:00:00 +0530 Mon, 01 Apr 2019 06:13:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279685 The ITAT Chennai ruled in favor of the appellant, directing the Ld.AO to delete the addition of &8377; 18,94,96,500/- for the assessment year 2013-14. The court found merit in the appellant's argument that revenue need not be recognized in the presence of substantial uncertainty in collection, as per Accounting Standard 9. The Ld.CIT(A)'s decision was overturned based on the appellant's claim and the specific circumstances of the case, where the appellant had taken legal action to recover the amount in question. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279685