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2018 (2) TMI 601 - AT - Income TaxAddition on account of subsidy payable by the Govt. - system of accounting - Held that:- It is seen that as in the earlier years the AO in the year under consideration also questioned the Accounting System followed by the assessee and held it to be a hybrid system and thus contrary to the statutory mandate. The assessee's claim that it was following the mercantile system of accounting was not accepted. The CIT(A) relying on the past precedent available in the decision cited, and considering the facts in the year under consideration which were identical rejected the addition made by the AO by way of a disallowance.
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