2018 (2) TMI 1714

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.... ORDER P. C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 12th September, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2002-03. 2. The Revenue has urged the following substantial questions of law for our consideration : (i) Whether in law and on the fact....

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....ues raised herein to the Assessing Officer for a fresh consideration. Mr. Pinto, learned Counsel appearing for the Revenue states that consequent to the restoration, the Assessing Officer has already passed an order dated 2nd March, 2015 in favour of the Revenue. (b) In the above view, these questions became academic and do not give rise to any substantial question of law. Thus, not entertained....

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....or the respondent assessee, this manner / method of determining profits stands concluded by the decision of the Supreme Court in Commissioner of Income Tax Vs. Bilahari Investment P. Ltd. 299 ITR 01 wherein it has been observed as under : "15. Recognition / identification of income under the 1961 Act is attainable by several methods of accounting. It may be noted that the same result coul....