https://www.taxtmi.com/caselaws?id=312201 ITAT Delhi held that assessee correctly followed receipt basis accounting for royalty income from DGH, with Rs. 4657 lacs shown as outstanding on March 31, 2008 and realized in next assessment year. Change in accounting policy mandated by CAG report was for fund management strengthening, not revenue manipulation. No revenue loss occurred as income was properly reported in AY 2009-10. CIT(A) erred in confirming addition based solely on accounting policy change. Regarding royalty payable to state government, CIT(A) correctly allowed deduction as crystallized liability per DGH letters, not contingent liability. Assessee's appeal allowed, revenue's appeal dismissed. en-us Wed, 09 Dec 2020 00:00:00 +0530 Tue, 06 Feb 2024 23:10:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312201 ITAT Delhi held that assessee correctly followed receipt basis accounting for royalty income from DGH, with Rs. 4657 lacs shown as outstanding on March 31, 2008 and realized in next assessment year. Change in accounting policy mandated by CAG report was for fund management strengthening, not revenue manipulation. No revenue loss occurred as income was properly reported in AY 2009-10. CIT(A) erred in confirming addition based solely on accounting policy change. Regarding royalty payable to state government, CIT(A) correctly allowed deduction as crystallized liability per DGH letters, not contingent liability. Assessee's appeal allowed, revenue's appeal dismissed. Case-Laws Income Tax Wed, 09 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312201