Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Method of accounting governs tax computation: cash or mercantile system, with standards and AO power to reassess. Income from business, profession or other sources is to be computed according to the cash or mercantile system regularly employed; the Central Government may notify income computation and disclosure standards for classes of assessees or income, and where accounts are incorrect, incomplete, irregularly followed, or not in accordance with notified standards, the Assessing Officer may make assessment by the alternative assessment procedure for unreliable accounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Method of accounting governs tax computation: cash or mercantile system, with standards and AO power to reassess.
Income from business, profession or other sources is to be computed according to the cash or mercantile system regularly employed; the Central Government may notify income computation and disclosure standards for classes of assessees or income, and where accounts are incorrect, incomplete, irregularly followed, or not in accordance with notified standards, the Assessing Officer may make assessment by the alternative assessment procedure for unreliable accounts.
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