from the sale of the
goods. However, the application of the matching concept
under this Framework does not allow the recognition of
items ... already recognized (accrued). In
other words, it is not based on matching
concept. Under the matching concept, if
revenue is recognized the cost incurred
already recognized (accrued). In other words, it is not based
on matching concept. Under the matching concept, if revenue
is recognized the cost incurred ... year, otherwise
15 ITA Nos.1592 & 1593/Del/2017
the matching concept fails. In such a case the second option is
also inappropriate.
Under
initial period is always built into the cost
and hence matching principles need necessarily to be provided in the
revenue. According to the assessee ... proposal made by the Assessing Officer is being accepted, following
the concept of matching revenue with the cost then even the cost relating
earlier years. It has also been
mentioned that as per the matching concept, the expenses should have been
booked in the previous year and cannot ... earlier years. It has also been submitted that no
matching concept is applicable in the case of assessment of trust since
taxation of income
relevant year. This would also satisfy the criteria of
matching concept. Under the matching concept, if the revenue is
recognized the cost incurred to earn ... such warranty cost in its accounts for relevant year,
otherwise the matching concept fails. The past event of providing
warranty as an integral part
erred on facts and in law in mis-interpreting the
'matching concept', and holding that provision for warranty ... such warranty cost in its accounts for
the relevant year otherwise matching concept will be violated. The Ld. AR
relied upon the decision
Further he observed that the assessee has not followed any matching
concept of booking revenue to that of expenditure, nor has the assessee
has followed ... next allegation of AO that assessee company has not
followed any matching concept of booking revenue to that of
expenditure, nor has the assessee followed
Further he observed that the assessee has not followed any matching
concept of booking revenue to that of expenditure, nor has the assessee
has followed ... next allegation of AO that assessee company has not
followed any matching concept of booking revenue to that of
expenditure, nor has the assessee followed
years at the
option of the assessee if the principle of matching concept is satisfied.
The learned counsel submitted that the assessee took on lease ... ensuing years, it can be
allowed only if the principle of matching concept is
satisfied, which upto now has been restricted to the cases
claim was allowed by the
Hon'ble Court following matching concept of income and expenditure,
according to which, if revenue is recognized , the cost
