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2006 (10) TMI 134 - MADRAS HIGH COURTAllegation on assessee is that he is following cash system for interest and mercantile system for others – it cannot be said that it was impermissible for the assessee to have followed a mixed or a hybrid system of accounting – assessee could not be held to be disentitled to change the method of accounting on the ground that such a mixed system of accounting would result in loss to Revenue for that year - Tribunal was right in holding that interest should be taxed only on cash basis
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