https://www.taxtmi.com/caselaws?id=61815 The appellate tribunal ruled in favor of the firm in a case concerning the treatment of borrowed tins in accounting for income-tax purposes. The tribunal found the firm's method of adjusting for borrowed tins justified based on historical transactions, emphasizing the need to exclude the cost of borrowed items from revenue accounting to determine accurate profits. It highlighted the importance of proper accounting to prevent artificial profit inflation and confirmed that the firm's approach did not lead to income leakage, ultimately dismissing the departmental appeal. en-us Tue, 10 Sep 1991 00:00:00 +0530 Sat, 15 Jan 2011 11:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61815 The appellate tribunal ruled in favor of the firm in a case concerning the treatment of borrowed tins in accounting for income-tax purposes. The tribunal found the firm's method of adjusting for borrowed tins justified based on historical transactions, emphasizing the need to exclude the cost of borrowed items from revenue accounting to determine accurate profits. It highlighted the importance of proper accounting to prevent artificial profit inflation and confirmed that the firm's approach did not lead to income leakage, ultimately dismissing the departmental appeal. Case-Laws Income Tax Tue, 10 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61815