https://www.taxtmi.com/caselaws?id=66004 Appeal rights extend to protective assessments where a genuine dispute exists over the year of taxability or the amount of income assessed; such an assessment is not merely collateral when it substantively determines liability. In a builder's business, profit may be estimated on advances and instalment receipts before registered sale deeds are executed if this is the regularly employed accounting method and it reliably reflects income. Under the prescribed accounting rule, the assessment cannot be restricted to a protective basis solely because formal sale completion has not occurred. A protective label does not displace the substance of a regular assessment determining returned income. en-us Tue, 26 Aug 1986 00:00:00 +0530 Sat, 19 Feb 2011 17:48:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66004 Appeal rights extend to protective assessments where a genuine dispute exists over the year of taxability or the amount of income assessed; such an assessment is not merely collateral when it substantively determines liability. In a builder's business, profit may be estimated on advances and instalment receipts before registered sale deeds are executed if this is the regularly employed accounting method and it reliably reflects income. Under the prescribed accounting rule, the assessment cannot be restricted to a protective basis solely because formal sale completion has not occurred. A protective label does not displace the substance of a regular assessment determining returned income. Case-Laws Income Tax Tue, 26 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66004