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2019 (5) TMI 1394 - HC - Income TaxAccrual of income - recognition of revenue - change in method of accounting - linked the commission income to the payment of premium by the policy holder - change enabled the reduction of tax liability of the assessee on income earned by way of insurance agency commission - AS-9 - ITAT held that the commission which is to be accrued and due and payable in the next financial years only cannot be taxed in the year under assessment - HELD THAT:- It is pointed out by learned counsel appearing for the assessee on advance notice, that the change adopted by the Assessee in the method of accounting, has been accepted by the Revenue for the four subsequent AYs, which were all scrutiny assessments. The Court is not persuaded that any substantial question of law arises for consideration of the Court. - Decided against revenue
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