https://www.taxtmi.com/caselaws?id=384325 The High Court upheld the ITAT's decision in favor of the Assessee for the Assessment Year 2006-07. The Court found that the ITAT did not err in allowing the Assessee to book all revenue expenditure in the same year, including distributors' commission, incentives, and outward freight cartage. The Court emphasized the importance of the 'matching principle' in accrual basis accounting but concluded that since the AO did not challenge the accuracy of the Assessee's accounts, there was no need to alter the expenditure allocation, dismissing the Revenue's appeal. en-us Mon, 05 Aug 2019 00:00:00 +0530 Sat, 10 Aug 2019 06:49:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384325 The High Court upheld the ITAT's decision in favor of the Assessee for the Assessment Year 2006-07. The Court found that the ITAT did not err in allowing the Assessee to book all revenue expenditure in the same year, including distributors' commission, incentives, and outward freight cartage. The Court emphasized the importance of the 'matching principle' in accrual basis accounting but concluded that since the AO did not challenge the accuracy of the Assessee's accounts, there was no need to alter the expenditure allocation, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 05 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384325