https://www.taxtmi.com/caselaws?id=418022 The Tribunal concluded that income from the assessee's cold storage business should not be recognized uniformly over the storage period but should align with the actual removal of goods. It held that direct input costs for February and March should be deferred for adjustment against income in the following year. The Tribunal found its earlier decisions lacking consideration of relevant facts and thus not binding precedents, allowing the appeals in favor of the assessee. en-us Fri, 24 Dec 2021 00:00:00 +0530 Mon, 27 Jun 2022 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418022 The Tribunal concluded that income from the assessee's cold storage business should not be recognized uniformly over the storage period but should align with the actual removal of goods. It held that direct input costs for February and March should be deferred for adjustment against income in the following year. The Tribunal found its earlier decisions lacking consideration of relevant facts and thus not binding precedents, allowing the appeals in favor of the assessee. Case-Laws Income Tax Fri, 24 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418022