ITAT Upholds Revenue Recognition, Discounts & Confirms Accrual Method

HP India Sales Pvt. Ltd. Vs JCIT (ITAT Bangalore) ITAT Upholds Revenue Recognition & Discount Practices – ITAT Relies on Consistency & Mercantile Principles to Quash AO’s Heavy Additions HP India Sales Pvt. Ltd. (formerly Hewlett-Packard India Sales Pvt. Ltd.), engaged in trading of computer systems & related services, filed appeal against the order of CIT(A). AO had made multiple additions/disallowances u/s 143(3) r.w.s 144C, largely on issues of revenue recognition, discounts, provisions, lease rent, warranty, spare parts & miscellaneous expenses. CIT(A) deleted/partl...