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2019 (8) TMI 1052 - AT - Income TaxReal Income - electricity bill raised at higher price but recognised in income at lower price approved by ATE - differential was shons as contingent sales - HELD THAT:- Ld.CIT(A) allowed the appeal of the assessee following the decision of this Tribunal in the assessee’s own case [2017 (5) TMI 531 - ITAT VISAKHAPATNAM] wherein it was held that sale on account of differential sale price claimed by the assessee which was pending before the ATE for adjudication is not accrued to the assessee as revenue for the relevant financial year. The assessee has rightly recognized the revenue as per the sale price fixed by the state government which is the real income accrued to the assessee as per the prevailing situation. The additional claim made by the assessee is a mere claim which was not settled by the authorities. Unless the issue is settled, the assessee cannot recognize its revenue merely based on its claim, The assessee has rightly treated the difference between sale price claimed and the price paid by the APTRANSCO as contingent sales. Since, there is no change in the facts and the Ld.CIT(A) allowed the appeal of the assessee following the order of this Tribunal, we do not find any reason to interfere with the order of the Ld.CIT(A) and uphold the same. - Decided in favour of assessee.
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