https://www.taxtmi.com/caselaws?id=205027 The Tribunal upheld the AO's decision to apply Section 145(3) and add Rs. 11,15,482 to the assessee's income for the period January to March 2006. However, it directed a set-off for income already accounted for in the previous year, reducing the net addition to Rs. 1,96,830. The appeal was partly allowed, emphasizing the importance of accurately reflecting income and expenses within the same accounting period under the mercantile system. en-us Wed, 19 May 2010 00:00:00 +0530 Tue, 21 Jun 2011 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205027 The Tribunal upheld the AO's decision to apply Section 145(3) and add Rs. 11,15,482 to the assessee's income for the period January to March 2006. However, it directed a set-off for income already accounted for in the previous year, reducing the net addition to Rs. 1,96,830. The appeal was partly allowed, emphasizing the importance of accurately reflecting income and expenses within the same accounting period under the mercantile system. Case-Laws Income Tax Wed, 19 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205027