TMI Blog2018 (5) TMI 277X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Income-Tax (Appeals)- 2 [CIT(A)], Mumbai Appeal No.CIT(A)-2/IT-25/2013-14 dated 14/03/2016. The assessment for impugned AY was framed by Ld. Deputy Commissioner of Income Tax-1(1) on 06/03/2013 u/s 143(3) of the Income Tax Act, 1961. The assessee has filed cross objections against the same. The effective grounds raised in revenue s appeal reads as under:- I. On the facts and in the ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9.79 crores e-filed by the assessee on 30/10/2010. The aforesaid adjustment of professional income is the sole subject matter of this appeal. 2.2 Upon perusal of details filed by the assessee during assessment proceedings, the Ld. AO opined that the professional fees bills raised by the assessee in the month of April, 2010 amounting to ₹ 1.05 crores pertained to services rendered by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in assessee s favor by the cited judgment and therefore, the factual matrix being the identical, the same should be followed. The Ld. DR fairly conceded the same. 5. Upon perusal of order of this Tribunal in ITA No. 4135-36/Mum/2015 order dated 15/03/2017 for AY 2009-10, as placed on record, we find that the matter has been settled in assessee s favour by the Tribunal by making following obse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the learned CIT(A). Finally, both the appeals of the Revenue are dismissed. Since the facts are identical, respectfully following the same, the appeal of the revenue stands dismissed. To make it more clear, the said adjustment of ₹ 1.01 crores made by Ld. AO by enhancing the returned loss is not warranted and therefore, the total loss of the assessee stands determined at Rs.(-)9,79,9 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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