Change in accounting policy - the change in accounting policy is ...
Audit Objection by CAG Leads to Revenue-Neutral Change in Accounting Policy, Accepted by Assessing Officer.
February 10, 2020
Case Laws Income Tax HC
Change in accounting policy - the change in accounting policy is a result of the audit objection raised by CAG. The appellant has claimed deduction in profits in the computation of the total income, and added it as income in the subsequent assessment year, which has been accepted by the AO. The change is, thus, revenue neutral.
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