Dismissing the appeal the Court held that the aspects that under the mercantile system only actually accrued income was taxable and the income from unclaimed stored goods accrued merely due to indefinite storage, had been decided on concession. Appeal was dismissed.
Central Warehousing Corporation v CIT (2025) 476 ITR 516 (Delhi)(HC) Editorial : SLP rejected, Central Warehousing Corporation. v. PCIT (2025) 476 ITR 520 (SC)
S. 260A : Appeal-High Court-Method of accounting-Bonded warehouses-Accrual basis-Matter remanded to the Assessing Officer on concession by assessee-Appeal dismissed. [S. 254(1)]
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