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PCIT v. International Metro Civil Contractors. (2018) 408 ITR 136/ 254 Taxman 426/ 304 CTR 682 (Bom) (HC)

S. 260A : Appeal – High Court – Method of accounting – Following AS-7 of the ICAI and not appreciating the fact that the same is not notified by the provisions of section 145 of the Income -tax Act , 1961 is a question of law, which requires consideration . [ S.145 ]

Following , question of law is admitted

“ Whether on the facts and in the circumstances of the case and in law , the Tribunal was justified in allowing the claim of the assssee following the AS-7 of the ICAI and by not appreciating the fact that the same is not notified by the provisions of section 145 of the Income -tax Act , 1961 ?”( AY.2008-09)