However, Mr. Dastur argued that the Tribunal erred in introducing the matching concept referred to above . He submitted that in the present case the liability ... Mercantile System of Accounting, this Matching is required to be done on accrual basis. Under this Matching concept, revenue and income earned during an Accounting
However, Mr. Dastur argued that the Tribunal erred in introducing the matching concept referred to above . He submitted that in the present case the liability ... Mercantile System of Accounting, this Matching is required to be done on accrual basis. Under this Matching concept, revenue and income earned during an Accounting
reasoning on the second
aspect and applied the principle of 'Matching Concept' to support
this conclusion.
Civil Appeal ... matched with the
cost of resources consumed (expenses). For this reason, in the
opinion of the High Court, this matching concept is required
entire
expenditure in one year would give distorted picture and the
„matching concept‟ of income and expenditure would clearly be
attracted ... expenditure
were entirely two different aspects and he also submitted that
„matching concept‟ would not apply in the instant case as held in
Commissioner
recognised (accrued). In other words, it is not based on the matching concept. Under the matching concept, if revenue is recognised the cost incurred ... warranty costs in its account for the relevant year, otherwise the matching concept fails. In such a case the second option is also inappropriate. Under
already
recognized (accrued). In other words, it is not
based on matching concept. Under the matching
concept, if revenue is recognized the cost incurred ... warranty costs in its account for the
relevant year, otherwise the matching concept
fails. In such a case the second option is also
inappropriate. Under
already recognized (accrued).
In other words, it is not based on matching concept. Under the
matching concept, if revenue is recognized the cost incurred ... warranty costs in its account for the relevant year, otherwise
the matching concept fails. In such a case the second option is
also inappropriate. Under
mercantile
system of accounting, this matching is required to be
done on accrual basis. Under this matching concept,
revenue and income earned during an accounting ... this case, the
assessee is following mercantile system of accounting.
This matching concept is very relevant to compute
taxable income particularly in cases involving
decisions of the Supreme Court that there should be matching concept of income and expenditure, learned Standing Counsel pointed out that while the assessee ... judgment also pointed out to the settled principle on the matching concept of income and expenditure, that the ultimate analysis results in true income
years, it can be allowed only if the principle
of "matching concept" is satisfied, which upto now has been
restricted to cases ... Mercantile System of Accounting, this Matching is
required to be done on accrual basis. Under this
Matching concept, revenue and income earned during an
Accounting
