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| The Tax Publishers2019 TaxPub(DT) 3831 (Del-HC) INCOME TAX ACT, 1961
Section 5
Where assessee pointed out that change adopted by assessee in the method of accounting, was accepted by Revenue for the four subsequent asessment years, which were all scrutiny assessments, therefore appeal filed by Revenue was dismissed.
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Income - Accrual - Recognition of revenue - Change in method of accounting
Assessee was engaged in business of consultancy and advisory services and provides marking support to insurance companies. Whether Tribunal erred in deleting the addition made by AO on account of change in method of accounting of the assessee, which enabled the reduction of tax liability of the assessee on income earned by way of insurance agency commission. Held: It was pointed out by assessee on advance notice, that change adopted by assessee in the method of accounting, was accepted by Revenue for four subsequent asessment years, which were all scrutiny assessments. The Court was not persuaded that any substantial question of law arises for consideration of the Court.
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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