M/S. NORTH EASTERN ELECTRIC POWER CORPORATION LTD.,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - SHILLONG, SHILLONG

In the result, the appeal of the assessee in ITA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

gains of any previous year are required to be computed in accordance with relevant accounting standards. Similarly, the case of G.R. Karthkeyan (supra) also w#l not benefft the revenue as it did not decide any controversy of accrual or mercanfie system of accounting. The judgment deals with winning from gambling and batting income, there is no issue about accounts

M/S. NORTH EASTERN ELECTRIC POWER CORPORATION LTD.,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - SHILLONG, SHILLONG

In the result, the appeal of the assessee in ITA