CIT-I CHANDIGARH vs. M/S PB.INFO&COMM. TECH. CORP. LTD. CHD.

The appeals are dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

deposited with the assessee were only receipts and the taxable income would be only after deduction of expenses, which were to be incurred by it in the succeeding years. He, therefore, urged that the observations made by the authorities below that the additions as made by the assessing officer were not in accordance with method of accounting followed