https://www.taxtmi.com/caselaws?id=62483 The appeal was dismissed as the lower authorities were justified in rejecting the switch to the hybrid system of accounting. The income was determined on a mercantile basis as the hybrid system did not allow for the proper deduction of true profits and gains. The change in accounting method was not considered bona fide, and Section 145(2) of the IT Act was applied for a best judgment assessment. en-us Fri, 19 Jan 1990 00:00:00 +0530 Thu, 20 Jan 2011 10:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62483 The appeal was dismissed as the lower authorities were justified in rejecting the switch to the hybrid system of accounting. The income was determined on a mercantile basis as the hybrid system did not allow for the proper deduction of true profits and gains. The change in accounting method was not considered bona fide, and Section 145(2) of the IT Act was applied for a best judgment assessment. Case-Laws Income Tax Fri, 19 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62483