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2017 (5) TMI 531 - AT - Income TaxAccrual of income - applicability of AS-9 - whether pending disputed sale price, kept in contingent sales account is accrues to the assessee for the relevant financial year? - Held that:- This appeal is squarely covered by the decision of ITAT, Visakhapatnam in assessee’s own case for the assessment year 2009-10 wherein the coordinate bench has observed that the impugned contingent sale on account of differential sale price claimed by the assessee, which was pending before the Appellate Tribunal for Electricity is not accrued to the assessee as revenue for the relevant financial year. Also as decided in the case of Godara Electricity Company Limited Vs. CIT (1997 (4) TMI 4 - SUPREME Court) has held that the assessee has rightly treated difference between sale price claimed and price paid by the APTRANSCO as contingent sales, which is not accrued to the assessee for the relevant financial year. - Decided in favour of assessee.
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