No revenue recognized despite having incurred a cost- ITAT remanded matter back to AO/TPO

SBI Business Process Management Services Pvt. Ltd. Vs DCIT (ITAT Delhi) Conclusion: Since in the financial statement for the relevant year (F.Y. 11-12), the auditor had made a clear disclosure that no revenue had been recognized on account of services rendered to SBI despite having incurred a cost of Rs. 3.2 crore and moreover, as per the matching ‘principle, if cost in connection with provision of the said services had been incurred and accounted for in books in FY 2011-12, the revenue corresponding to the same (Rs. 2.87 crore) must also be considered in F.Y. 2011- 12.  These facts were to...