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2023 (10) TMI 134 - ITAT MUMBAIRevenue recognition - Additions based on TDS statement 26AS - Assessee claimed a part of the amount as received in Advance - entire Tax Deducted as Source (TDS) corresponding to the contractual receipts has been claimed by the Assessee - CIT(A) directed the AO to delete the addition and also restrict the TDS claim made by the assessee in the year under consideration only in respect of the income for the assessment year 2008-09 as per accounting policy followed by the assessee. - HELD THAT:- As there is no dispute regarding the preparation of the financial statement by the assessee as per AS-9, wherein the assessee offered to tax the income to the extent of project completed and the balance amount was considered as advance, we are of the considered view that the learned CIT(A) correctly directed the AO to delete the addition which was declared as advance by the assessee in the year under consideration and offered to tax in the subsequent year on the basis of project completion. We also do not find any infirmity in the directions of the learned CIT(A) to restrict the credit of TDS only with respect to the income of Rs. 9,79,79,884 for the assessment year 2008-09 and the balance excess claim for TDS be allowed in the subsequent years in which the income has been offered to tax as per the consistent accounting practice followed by the assessee. Accordingly, the impugned order passed by the learned CIT(A) is upheld and the grounds raised by the Revenue are dismissed.
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