Unbilled Revenue cannot considered as Income once written off: ITAT deletes Addition [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) ruled that once unbilled revenue had been written off, it could no longer be regarded as income
By Aparna. M - On January 17, 2024 3:32 pm - 2 mins read
Unbilled Revenue - Income once written off-ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench, while deleting the addition made by the Assessing Officer, held that unbilled revenue could not be considered as income once it had been written off. The assessee, Pennar Industries Ltd, engaged in the business of executing subcontract work in respect of laying power lines. During the assessment…

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