Revenue Recognition Method adopted by Red Hat India can’t be disturbed when duly supported by Mandate of AS-9: ITAT deletes Addition imposed by AO [Read Order]

By Sunayana Dhal - On September 7, 2023 5:00 pm - 2 mins read
Revenue Recognition Method - Red Hat India - Mandate of AS-9 - ITAT deletes Addition imposed by AO - AO - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the revenue recognition method adopted by Red Hat India Pvt ltd. cannot be disturbed when duly supported by the mandate of Accounting Standard-9. The assessee, Red Hat India Pvt ltd (RHIPL) engaged in the business of marketing, promotion, and distribution of “Red Hat…

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