https://www.taxtmi.com/caselaws?id=202173 Issue concerning alleged change from mercantile to cash accounting and genuineness of sundry creditors/payments. Tribunal erred in finding a change of accounting method; records and prior practice demonstrate continuation of the mercantile system, so no suppression of receipts. On genuineness of sundry creditors, contemporaneous log books authenticated by the municipal verifier, deduction of tax at source, prior filing of creditor lists and affidavits, and subsequent full payments establish the payments and services as genuine, rendering the ITATs contrary finding perverse. Assessment findings are evidential but not conclusive in penalty proceedings, and the impugned adverse conclusions were unjustified. en-us Fri, 19 Nov 2010 00:00:00 +0530 Sat, 17 Jan 2026 11:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202173 Issue concerning alleged change from mercantile to cash accounting and genuineness of sundry creditors/payments. Tribunal erred in finding a change of accounting method; records and prior practice demonstrate continuation of the mercantile system, so no suppression of receipts. On genuineness of sundry creditors, contemporaneous log books authenticated by the municipal verifier, deduction of tax at source, prior filing of creditor lists and affidavits, and subsequent full payments establish the payments and services as genuine, rendering the ITATs contrary finding perverse. Assessment findings are evidential but not conclusive in penalty proceedings, and the impugned adverse conclusions were unjustified. Case-Laws Income Tax Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202173