Dismissing the appeal of the revenue the Court held that the Tribunal is justified in deleting trade advances received by assessee were adjusted against sales made in subsequent years.
PCIT v. Montage Enterprises (P.) Ltd. (2018) 100 taxmann.com 99 / 259 Taxman 418 (Delhi)(HC) Editorial: SLP of revenue is dismissed; PCIT v. Montage Enterprises (P.) Ltd. (2018) 259 Taxman 417 (SC)
S. 68 : Cash credits–Trade advances-Adjusted against sales made in subsequent years-Deletion of addition is held to be justified.