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of <h1>Company permitted to switch accounting method to avoid double taxation, Court rules no violation, unanimous decision.</h1> The High Court of Calcutta allowed a company to change its accounting method from mercantile to cash system, with the Income-tax Officer directed to ... Accounting The High Court of Calcutta addressed a question regarding a company's change in accounting method from mercantile to cash system. The Tribunal allowed the change, citing a bonafide reason and directing the Income-tax Officer to impose necessary conditions to prevent double taxation. The Court found no violation of the Companies Act and ruled in favor of the assessee. The judgment was agreed upon by both judges.
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