2023 (7) TMI 1472 - HC - Income Tax

Accrual of income - advance from customers - these amounts constituted income liable to be taxed in the assessment year under consideration or not? - HELD THAT - The proposed question is covered in favour of the respondent/assessee, by the judgment of the Supreme Court in Taparia Tools Ltd. 2015 (3) TMI 853 - SUPREME COURT No interference is called for qua the impugned order which has been passed by the Tribunal, as no substantial question of law arises for consideration.

Summary

The appeal concerns Assessment Year 2005-06 and challenges an order dated 07.11.2017 related to AYs 2005-06, 2006-07, and 2007-08. The appellant proposed a question of law regarding the addition made by the Assessing Officer on advance from customers. The appellant's argument was rejected based on a Supreme Court judgment. The appeal was closed as no substantial question of law arose for consideration.