2007 (5) TMI 229

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....ugust, 2006 passed by the Income Tax Appellate Tribunal, Delhi Bench 'I' in ITA No.4739/Del/04 relevant for the assessment year 2001-2002. 2. The Assessee was following a mercantile system of accounting. There was some discrepancy between the bills raised and the payments received and this was explained by the Assessee on the ground that it was maintaining a running account in respect of its cl....