https://www.taxtmi.com/caselaws?id=384863 The case involved discrepancies in purchase bills and receipts, treatment of income related to the power division, application of the mercantile system of accounting, revenue recognition, and adjustments. The appeal was filed by the revenue against the CIT(A)'s order. The tribunal upheld the CIT(A)'s decision, emphasizing revenue recognition aligning with actual income accrued. The decision favored the assessee, dismissing the revenue's appeal and highlighting adherence to accounting standards and the impact of the mercantile system on income determination. en-us Wed, 21 Aug 2019 00:00:00 +0530 Fri, 23 Aug 2019 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384863 The case involved discrepancies in purchase bills and receipts, treatment of income related to the power division, application of the mercantile system of accounting, revenue recognition, and adjustments. The appeal was filed by the revenue against the CIT(A)'s order. The tribunal upheld the CIT(A)'s decision, emphasizing revenue recognition aligning with actual income accrued. The decision favored the assessee, dismissing the revenue's appeal and highlighting adherence to accounting standards and the impact of the mercantile system on income determination. Case-Laws Income Tax Wed, 21 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384863