Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (7) TMI 291 - MADRAS HIGH COURTFrom April 1, 1993 assessee changed the method of accounting from mercantile to cash, in respect of income under the head “Additional finance charges” on hire purchase/lease transactions – in view of facts of case, it cannot be said that such additional finance charges had really accrued to the assessee-company - change in the method of accounting has not caused a real loss to the Revenue – moreover, Hybrid system of accounting was permissible during the A.Y. 1994-95 – revenue’s appeal dismissed
|