Held, that the advance received by the assessee pertained to services to be rendered in the immediately succeeding Assessment year. The assessee had rightly recognised its revenue in the following year ; therefore, the addition made by the Assessing Officer was erroneous ; he was directed to delete the addition made on account of advance receipts. (AY. 2012-13 to 2015-16).
Matrimony.Com Ltd. v.Asst. CIT (2023)101 ITR 253 (Chennai) (Trib)
S. 28(i) : Business income-Accrual of income-Advance received for services to be rendered in subsequent years-AO taxed in current year-CIT(A) allowing 10% to be treated in subsequent year-Addition to be deleted.[S. 5, 145]