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2017 (4) TMI 764 - AT - Income TaxAccrual of Income - unreconciled AIR / ITS data - income offered in the next year - tax neutral - Held that:- Assessing Officer made addition of ₹ 2,06,73,054/- representing various invoices raised by the assessee on his clients in the month of April 2009. These receipts were accounted for in the relevant previous years of A.Y.2010-11, meaning thereby the income has already accounted for in the subsequent assessment year. The claim of the assessee is that the Revenue is recognized only at a stage where there is certainty of realization of income. It is noted that there is no undue benefit derived by the assessee in accounting for certain invoices in subsequent year. Our view finds support from the decision from Hon'ble Apex Court in CIT vs. Excel Industries Ltd.[2013 (10) TMI 324 - SUPREME COURT] The tax rate in both the years is same, thus, we find no infirmity in the conclusion of the learned CIT(A). Finally, both the appeals of the Revenue are dismissed.
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