https://www.taxtmi.com/caselaws?id=64008 The Tribunal upheld the CIT (Appeals) orders for the assessment years 1975-76, 1976-77, and 1980-81, determining that royalty income should be assessed on a receipt basis. The consistent use of the cash method of accounting by the assessee was deemed valid, emphasizing the importance of respecting the chosen accounting method. The Tribunal emphasized the finality of its orders and the binding nature of Tribunal decisions on subsequent assessments, dismissing Departmental appeals and reinforcing the principle of consistency in accounting practices. en-us Mon, 04 Sep 1989 00:00:00 +0530 Thu, 03 Feb 2011 11:16:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64008 The Tribunal upheld the CIT (Appeals) orders for the assessment years 1975-76, 1976-77, and 1980-81, determining that royalty income should be assessed on a receipt basis. The consistent use of the cash method of accounting by the assessee was deemed valid, emphasizing the importance of respecting the chosen accounting method. The Tribunal emphasized the finality of its orders and the binding nature of Tribunal decisions on subsequent assessments, dismissing Departmental appeals and reinforcing the principle of consistency in accounting practices. Case-Laws Income Tax Mon, 04 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64008