https://www.taxtmi.com/caselaws?id=65897 The Tribunal upheld the Assessing Officer's decision regarding hire purchase agreements, considering the SUM OF DIGITS METHOD as representing real income accrued. However, for lease agreements, the Tribunal directed the exclusion of excess income recognized through the SOD method, deeming it hypothetical income not accrued in the relevant year. The appeal was partly allowed, with the Tribunal instructing the AO to adjust the income recognition method for lease agreements accordingly. en-us Mon, 21 Apr 1997 00:00:00 +0530 Sat, 05 May 2012 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65897 The Tribunal upheld the Assessing Officer's decision regarding hire purchase agreements, considering the SUM OF DIGITS METHOD as representing real income accrued. However, for lease agreements, the Tribunal directed the exclusion of excess income recognized through the SOD method, deeming it hypothetical income not accrued in the relevant year. The appeal was partly allowed, with the Tribunal instructing the AO to adjust the income recognition method for lease agreements accordingly. Case-Laws Income Tax Mon, 21 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65897