9911796707
TMI Blog2020 (4) TMI 428X X X X Extracts X X X X X X X X Extracts X X X X ..... eply, the assessee has specifically mentioned that since it is following POCM, it has offered for tax the income on which it has claimed TDS during the year, in subsequent years on the basis of revenue recognized as per the consistent method of accounting followed by the assessee as per POCM. There is no mention of any such income offered in subsequent Assessment Years nor it has been verified by the Assessing Officer. Therefore, in the interest of justice and fair play, we restore this issue to the file of the Assessing Officer. The Assessing Officer is directed to verify whether the income has been recognized in subsequent Assessment Years and if found correct, credit of TDS should be given accordingly. Appeal of the assessee treated a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er: Particular Amount Revenue Recognised in P L A/c. as per As 7 262,014,771 Advance Progressive billing made 714,075,685 Mobilization advance received 847,959,184 Total 1,824,049,640 Gross receipt as per 26AS 1,824,049,640 Difference - 7. In its reply, the assessee explained that it has made progressive invoicing to the tune of ₹ 71, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during the year, in subsequent years on the basis of revenue recognized as per the consistent method of accounting followed by the assessee as per POCM. 12. We find that there is no mention of any such income offered in subsequent Assessment Years nor it has been verified by the Assessing Officer. Therefore, in the interest of justice and fair play, we restore this issue to the file of the Assessing Officer. The Assessing Officer is directed to verify whether the income has been recognized in subsequent Assessment Years and if found correct, credit of TDS should be given accordingly. 13. In the result, the appeal of the assessee in ITA No. 2901/DEL/2017 is treated as allowed for statistical purposes. The order is pronounced in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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