Taxation of commission Receivable in the Accrual Year

ACIT Vs Jila Sahakari Kendriya Bank Maryadit (ITAT Raipur) ITAT Raipur held that once it is established that the commission income were receivable, the said commission income is liable to be brought to tax in the year in which the same has been accured. Facts- The assessee is a co-operative society. Pr. CIT, Bilaspur after culmination of the assessment proceedings called for the assessment records of the assessee society. On a perusal of the records, it was observed by the Pr. CIT that the Chartered Accountant (CA) of the assessee society in his audit certificate had reported that the assessee...