Case Law Details
Case Name : CIT Vs. M.s Neon Solutions P. Ltd. (Bombay High Court), IT Appeal No. 2251 & 2360 of 2013, 05.04.2016
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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CA Saurabh Chokhra
Brief of the case:
1. The Hon’ble Bombay High Court in the above cited case held that even in mercantile system of accounting an item would be regarded as accrued income only if there is certainty of receiving it and not when it has been waived. Earning of the income, whether actual or notional, has to be seen from the viewpoint of a prudent assessee.
2. Therefore, when the assessee is seeing the rec
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