https://www.taxtmi.com/caselaws?id=67954 The Tribunal held that the income of the Corporation must be computed on an accrual basis for tax purposes, rejecting the assessee's request to file tax returns on a cash basis. The disallowance of entertainment expenses was remitted back for verification to determine if any part related to staff welfare. The disallowance of advertisement and publicity expenses for exceeding Rs. 50 per article was upheld. Regarding the levy of interest under Section 215, the Tribunal directed a recalculation based on the relief granted, resulting in a partial allowance of the appeal. en-us Tue, 06 May 1986 00:00:00 +0530 Tue, 15 Mar 2011 18:14:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67954 The Tribunal held that the income of the Corporation must be computed on an accrual basis for tax purposes, rejecting the assessee's request to file tax returns on a cash basis. The disallowance of entertainment expenses was remitted back for verification to determine if any part related to staff welfare. The disallowance of advertisement and publicity expenses for exceeding Rs. 50 per article was upheld. Regarding the levy of interest under Section 215, the Tribunal directed a recalculation based on the relief granted, resulting in a partial allowance of the appeal. Case-Laws Income Tax Tue, 06 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67954