2010 (1) TMI 191

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....bh Dubey, amicus curiae. JUDGMENT 1. Shri Rajeev Shrivastava with Smt. V. Shraddha Rao, counsel for the applicant. 2. This reference has been made under section 256(1) of the Income-tax Act, 1961 (henceforth "the Act") by the Income-tax Appellate Tribunal, Nagpur (henceforth "the Tribunal") at the instance of the Revenue and the Tribunal has referred the following question of law for our ....

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....od, he claims this deduction only when the bills were submitted by the Corporation. The Assessing Officer has, however, held that as the assessee was following the mercantile system of accounting, the expenditure should have been claimed as deduction in the earlier year and not in the subsequent year and accordingly, disallowed the claim. The Commissioner of Income-tax (Appeals) confirmed the orde....

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.... reported in 1980] 123 ITR 227 as in the instant case, the assessee entered into contract with the Corporation for certain job works. In the financial years 1988-89, the job work spread between December, 1988, and June, 1989, in two financial years. The contention of the assessee that there was a delay and difficulty in ascertaining the precise quantum of liability cannot postpone the accrual of t....