2016 (10) TMI 1263

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.... By way of these appeals, the Department has assailed the judgment and order of the Tribunal whereby the Tribunal has allowed the appeals preferred by the assessee and reversed the judgment and order of the CIT and Assessing Officer. 2. While admitting the appeals, this Court framed the following questions: Appeal No.37/2000 (i) Whether the Income Tax Appellate Tribunal was justified in co....

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....the tenant particularly when the assessee maintained account on mercantile basis? Appeal No.35/2000 (i) Whether on the proper appreciation of the provisions of the Customs Act, import procedure, etc. it could be said that the demurrage/wharfage charges had not accrued to the assessee particularly when the assessee followed mercantile system of accounting and there was existing right in favou....

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....the assessee and was includible in its total income. 4. He has also relied upon the decision of the Supreme Court in Income Tax Vs. Woodward Governor India P. Ltd., (2009) 312 ITR 254 (SC) and contended that the system of accounting followed by the assessee is binding to both the sides and the central income which was in the account of the assessee is required to be assessed in the relevant year....