https://www.taxtmi.com/caselaws?id=463898 ITAT MUMBAI - AT held that the assessee's consistent practice of accounting prior-period expenditure when crystallized - and symmetrically reporting prior-period income - precludes disallowing such expenditure; the addition on that account was deleted and the AO directed to give effect. On additions based on selective CAG comments, the Tribunal found cherry-picking unjustified, set aside the additions and restored the matter to the AO for de novo consideration, instructing the AO to examine the CAG report in its entirety and pass a speaking order. en-us Wed, 07 Feb 2024 00:00:00 +0530 Sun, 21 Sep 2025 00:47:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463898 ITAT MUMBAI - AT held that the assessee's consistent practice of accounting prior-period expenditure when crystallized - and symmetrically reporting prior-period income - precludes disallowing such expenditure; the addition on that account was deleted and the AO directed to give effect. On additions based on selective CAG comments, the Tribunal found cherry-picking unjustified, set aside the additions and restored the matter to the AO for de novo consideration, instructing the AO to examine the CAG report in its entirety and pass a speaking order. Case-Laws Income Tax Wed, 07 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463898