https://www.taxtmi.com/caselaws?id=207714 The High Court ruled in favor of the Revenue, setting aside the Tribunal's decision and affirming the assessing authority's order. The Court emphasized the accrual of income under the mercantile system of accounting and the statutory provisions governing additional tax liabilities. The judgment clarified the legal position on income adjustments and upheld the authority's obligation to follow statutory provisions despite any contrary theories proposed by the assessee. en-us Mon, 04 Jan 2010 00:00:00 +0530 Sat, 23 Jun 2012 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207714 The High Court ruled in favor of the Revenue, setting aside the Tribunal's decision and affirming the assessing authority's order. The Court emphasized the accrual of income under the mercantile system of accounting and the statutory provisions governing additional tax liabilities. The judgment clarified the legal position on income adjustments and upheld the authority's obligation to follow statutory provisions despite any contrary theories proposed by the assessee. Case-Laws Income Tax Mon, 04 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207714