TaxTMI 
TaxTMI 
2019 (6) TMI 445
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...., Mr. Bhavya Sundesha, for Respondent. P.C.: 1. This Appeal is filed by the Revenue to challenge the order of the Income Tax Appellate Tribunal. The following question is presented for our consideration : (i) Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT erred in holding that incomes arising on account of contractual work performed before termination of co....
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....icer rejected the Assessee's contention that these amounts had not accrued to the Assessee and therefore, even on the basis of mercantile system of accounting, the same do not have to be offered to tax. The Assessing Officer was of the opinion that since the Assessee had raised the bills whether payments were made or not would not be relevant in view of the fact that the Assessee followed merc....
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.... taxed in the earlier year. The Assessee carried the matter further before the Appellate Tribunal. 3. The Department also filed independent Appeal to the extent the decision of the Commissioner of Income Tax, (Appeal) were against the Revenue. The Tribunal by the impugned common Judgment allowed the Assessee's Appeal and dismissed the Revenue's Appeal. 4. The Tribunal noted the peculiar ....
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....ibunal applied the theory of real income and deleted the addition. 6. We may note that in the meantime, the Assessee had also in the later year, claimed same amount by way of bad debts. The Tribunal while giving relief to the Assessee ensured that such claim of bad debts would stand deleted. We are broadly in agreement with the view of the Tribunal. With respect to the larger amount of Rs. 59.51 ....