TMI Blog2001 (12) TMI 885X X X X Extracts X X X X X X X X Extracts X X X X ..... e been referred at the instance of the assessee. The assessment years are 1981-82 to 1983-84. The assessee is a manufacturer of air compressors, air horns, hydraulic lifts, car washers, etc. The assessee during the assessment year 1981-82 had changed its method of accounting in respect of the export cash assistance, from accrual to actual basis and followed mercantile system in respect of other it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the revenue that the change should not have been made in respect of one of the items of receipt. The Tribunal did not accept that contention and in our view rightly. 3. The change in the accounting insofar as export cash assistance is concerned having been made bona fide and with a view to avoid genuine problems and there being nothing in the Act which would come in the way of such change bei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Whether, on the facts and in the circumstances of the case, a valid charge or mortgage was created by the deed of hypothecation trust dated 1st May, 1981, as modified by the supplementary deed dated 27-9-1982? 2. Whether, on the facts and in the circumstances of the case, part of the interest on fixed deposits from the public was liable to be disallowed under section 40A(8) of the In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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