Commission on sales is to be allowed in year of sale even if sale was realised in next financial year

IN THE ITAT CHENNAI BENCH ‘C’ Devendra Exports (P.) Ltd. versus Assistant Commissioner of Income-tax Company Circle-1(4) IT APPEAL NO. 450 (MDS.) OF 2011 [ASSESSMENT YEAR 2005-06] JUNE 22, 2012 ORDER Vikas Awasthy, Judicial Member The present appeal has been filed by the assessee impugning the order of the CIT(A)-III, Chennai dated 07.12.2010. 2. The brief facts of the case are that the assessee is a private company engaged in the business of manufacturing and trading of automobile parts. The assessee filed return of income relevant to the assessment year 2005-06 o...