https://www.taxtmi.com/caselaws?id=388295 The Tribunal upheld the re-opening of assessment under sections 147/148, finding valid reasons for the AO's actions. The tax liability imposed was contested but deemed revenue-neutral due to the appellant's accounting method. Total receipts were computed based on TDS certificates, with the appellant entitled to the benefit of TDS deducted. Accrual of commission was accepted to occur upon receipt from the builder, aligning with tax payments made subsequently. The Department's acceptance of the appellant's accounting system was acknowledged, emphasizing consistency and the need for factual verification by the AO. The appeal was partly allowed, pending verification by the AO. en-us Mon, 29 Jul 2019 00:00:00 +0530 Wed, 13 Nov 2019 09:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388295 The Tribunal upheld the re-opening of assessment under sections 147/148, finding valid reasons for the AO's actions. The tax liability imposed was contested but deemed revenue-neutral due to the appellant's accounting method. Total receipts were computed based on TDS certificates, with the appellant entitled to the benefit of TDS deducted. Accrual of commission was accepted to occur upon receipt from the builder, aligning with tax payments made subsequently. The Department's acceptance of the appellant's accounting system was acknowledged, emphasizing consistency and the need for factual verification by the AO. The appeal was partly allowed, pending verification by the AO. Case-Laws Income Tax Mon, 29 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388295