Audit Objection by CAG Leads to Revenue-Neutral Change in Accounting Policy, Accepted by Assessing Officer.

Audit Objection by CAG Leads to Revenue-Neutral Change in Accounting Policy, Accepted by Assessing Officer. https://www.taxtmi.com/highlights?id=51663 Change in accounting policy - the change in accounting policy is a result of the audit objection raised by CAG. The appellant has claimed deduction in profits in the computation of the total income, and added it as income in the subsequent assessment year, which has been accepted by the AO. The change is, thus, revenue neutral. en-us Mon, 10 Feb 2020 08:51:20 +0530 Mon, 10 Feb 2020 08:51:20 +0530 TaxTMI RSS Generator Audit Objection by CAG Leads to Revenue-Neutral Change in Accounting Policy, Accepted by Assessing Officer. https://www.taxtmi.com/highlights?id=51663 Change in accounting policy - the change in accounting policy is a result of the audit objection raised by CAG. The appellant has claimed deduction in profits in the computation of the total income, and added it as income in the subsequent assessment year, which has been accepted by the AO. The change is, thus, revenue neutral. Highlights Income Tax Mon, 10 Feb 2020 08:51:20 +0530 https://www.taxtmi.com/highlights?id=51663