TMI Blog2012 (10) TMI 678X X X X Extracts X X X X X X X X Extracts X X X X ..... ny short coming, moreover, it has been accepted by the department in earlier years & there is no change in facts or law as compared to earlier years, thus as decided in CIT vs. Dalmia Promoters Developers (P) Ltd. [2006 (1) TMI 57 - DELHI HIGH COURT] for rejecting the view taken in earlier assessment years, there must be material change in the fact, situation or in law - in favour of assessee. - I.T.A. No. 1924/Del/2011 - - - Dated:- 19-10-2012 - SHRI A.D. JAIN, AND SHRI SHAMIM YAHYA, JJ. Assessee by : Sh. A.L. Sehgal, CA Department by : M rs. Anuradha Misra, C.I.T. (D.R.) ORDER PER SHAMIM YAHYA: AM This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-IV, New Del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... how caused as to why the said income should not be taken as income for the year . In response, the assessee stated that it was following the mercantile system of accountancy. It also drew attention to Board Circular No. 86 dated 29.5.1972. It was also clarified that TDS was being deducted as per the Board s circular. It was further clarified that the mobilization advance received remained a liability of the assessee to the extent work was not executed. It was pointed out that the TDS of mobilization advance claimed had all along being assessed in the year of deduction and has always been accepted by the Assessing Officer. 3.2 The Assessing Officer was dissatisfied with the reply of the assessee. He was of the view that since the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the year which was so as per Schedule 14 of the Audited Accounts. It was further stated that the mobilization advance remains a liability till completion of the work awarded and so much so it is refundable on termination of work awarded as the customer is fully secured as per Indemnity Bond with Cooperative Bank guarantees. The assessee, which follows the mercantile system of accounting has always booked the material at cost or market value. The Assessing Officer has mis-conceived suo motto that there is no value of work in progress despite the return filed. Such a method of accounting has always been followed and accepted by the Assessing Officer. Further, the claim on TDS deducted on mobilization advance has been claimed in the ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... persuaded the Assessing Officer to deviate from the stand taken by the earlier Assessing Officers. He further observed that assessee has been consistently reflecting the accounts which has taken a dispute only during this year. Ld. Commissioner of Income Tax (A) held that according to the principle of consistency, the stand of the Assessing Officer to his mind is incorrect as there was no reason why he should have gone for any exception to the principle of consistency. 5. Against the above order the Revenue is in appeal before us. 6. We have heard the rival contentions in light of the material produced and precedent relied upon. We find that in this case assessee is receiving mobilization advance from customers. This is to enable the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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