https://www.taxtmi.com/caselaws?id=68970 The Tribunal ruled in favor of the business entity engaged in film distribution, holding that the historically accepted accounting method of writing off the entire cost of distribution rights in the year of acquisition should prevail over Rule 9B of the Income-tax Rules, 1962. The Tribunal emphasized that Section 145 of the Income-tax Act grants the assessee the right to determine income based on the accounting method regularly employed, and rules such as Rule 9B cannot override statutory provisions. The appeals were partially allowed, directing income determination based on the assessee's traditional accounting method. en-us Thu, 29 Sep 1983 00:00:00 +0530 Mon, 04 Apr 2011 12:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68970 The Tribunal ruled in favor of the business entity engaged in film distribution, holding that the historically accepted accounting method of writing off the entire cost of distribution rights in the year of acquisition should prevail over Rule 9B of the Income-tax Rules, 1962. The Tribunal emphasized that Section 145 of the Income-tax Act grants the assessee the right to determine income based on the accounting method regularly employed, and rules such as Rule 9B cannot override statutory provisions. The appeals were partially allowed, directing income determination based on the assessee's traditional accounting method. Case-Laws Income Tax Thu, 29 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68970