2026 (4) TMI 326

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....r. DR ORDER PER RENU JAUHRI : The above captioned appeal is preferred by the assessee against the order dated 21.08.2025, passed by Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [for short, Ld. CIT(A)/NFAC], Delhi u/s 250 of the Income Tax Act, 1961 [hereinafter referred to as, "Act"] for A.Y. 2018-19 in Appeal No. NFAC/2017-18/10086237. 2. The assessee has raise....

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....icies adopted in preparation of the financial statements are consistent with those of the previous years". (v) That the addition of Rs. 9,25,662/- erroneously made by changing the consistently followed accounting policy of the appellant, be deleted." 3. Brief facts of the case are that the assessee filed its return for A.Y. 2018-19 on 29.11.2018, declaring NIL income and deemed income ....

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.... u/s 143(3) of the Act. Aggrieved, the assessee preferred an appeal before Ld. CIT(A). 3.1 Ld. CIT(A) also concurred with the observations of Ld. AO and held that since the assessee followed mercantile system of accounting, provisions of section 145B(2) of the Act are applicable whereas the assessee contended that section 145B(3) is applicable in its case. Vide order dated 21.08.2025, Ld. CIT(A....

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....evant financial year whereas the assessee had offered only Rs. 54,531/- as income in the year under consideration. Since the amount was sanctioned by the CBEC, there was a reasonable certainty of its realisation within the year and accordingly, the remaining amount of Rs. 9,25,662/- has rightly been taxed by the Ld. AO during the year under consideration. 5. We have heard the rival submissions ....