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2019 (4) TMI 1179 - BOMBAY HIGH COURTYear of taxability of the undisclosed receipts - income from such undisclosed receipts as per the regular methodology - In the returns the assessee also disclosed the same amount of income, but shifted the year of earning such income as per its method of accounting and also claimed expenditure in relation to such additional receipts - assessee company is engaged in the business of development of real estate properties and is declaring income from such business on the basis of a particular methodology, which has been accepted in the course of regular assessments. - HELD THAT:- It can be seen that the view of Assessing Officer would lead to contradictions, since the assessee’s income would be based on two different methodologies. First would be income arising out of computation on the basis of regular methodology and the second would be in relation to the income on receipt basis. The tribunal therefore accepted that the declaration of the assessee in the returns filed post search, to avoid such contradictions the income had to be recognized as per the assessee’s regular methodology. No question of law therefore arises. Deletion of the protective assessment - Since substantive assessment was confirmed and the benefit of telescoping granted by the CIT Appeals which was confirmed by the tribunal. Both issues are based entirely on facts. No question of law arises.
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