https://www.taxtmi.com/caselaws?id=70179 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 12,177. It found that the assessee consistently followed the mercantile system of accounting for sales-tax collections, enabling them to deduct the sales-tax liability that arose during the year. The Tribunal emphasized the importance of adhering to the mercantile system principle and cited relevant legal precedents to support its decision, overturning the earlier addition based on the methodology adopted by the assessee. en-us Thu, 21 Feb 1980 00:00:00 +0530 Thu, 14 Apr 2011 17:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70179 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 12,177. It found that the assessee consistently followed the mercantile system of accounting for sales-tax collections, enabling them to deduct the sales-tax liability that arose during the year. The Tribunal emphasized the importance of adhering to the mercantile system principle and cited relevant legal precedents to support its decision, overturning the earlier addition based on the methodology adopted by the assessee. Case-Laws Income Tax Thu, 21 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70179