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TMI Blog2018 (3) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... t. ORDER : 1. This Appeal under Section 260A of the Income Tax Act, 1961 ("The Act" for short), challenges the order dated 19 November 2014 passed by the Income Tax Appellate Tribunal ("The Tribunal" for short). The impugned order dated 19 November 2014 is in respect of Assessment Year 199899. 2. The Revenue urges the following question of law for our consideration: Whether on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies in the previous year relevant to the subject assessment year. Therefore, the amount had not yet accrued. It was also pointed out that as a matter of practice that they have been offering the sales tax refund as its income as and when the orders of refund are passed by the Sales Tax Officers on its refund claims. This on the basis that they are crystallized only when the refund order has been p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crystallized. The impugned order holds that in view of the above two possible views and in the absence of there being any rule of law as to whether the sales tax refund figures should be adopted based on the view taken by the Assessee to compute its profits dehors orders of sales tax authorities or it should be based on order of the sales tax authorities. In the above view, the Tribunal holds that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt of its income when the refund is sanctioned by the Authorities under the Sales Tax Act. Further Respondent-Assessee has also pointed out to the authorities during the penalty proceedings, that provisions for sales tax refund, which it had reduced, from its profits to determine taxable income, was in fact offered to tax as income in a subsequent assessment year 2000-01 i.e. on passing of orders ..... X X X X Extracts X X X X X X X X Extracts X X X X
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