https://www.taxtmi.com/caselaws?id=208196 The court upheld the Income Tax Tribunal's decision to reject the appellant's challenge of the cash method of accounting for taxable income. The Tribunal's justification for reopening assessments and revising income based on an accrual system, citing compliance with the Companies Act, was deemed valid. The court ruled against the appellant on various issues including the override of Income Tax Act provisions by the Companies Act, deduction claims for travelling and training expenses, and the validity of reopening assessments based on the Companies Act. The Tax Case Appeal was disposed of with no costs awarded. en-us Wed, 23 Nov 2011 00:00:00 +0530 Sat, 07 Jan 2012 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208196 The court upheld the Income Tax Tribunal's decision to reject the appellant's challenge of the cash method of accounting for taxable income. The Tribunal's justification for reopening assessments and revising income based on an accrual system, citing compliance with the Companies Act, was deemed valid. The court ruled against the appellant on various issues including the override of Income Tax Act provisions by the Companies Act, deduction claims for travelling and training expenses, and the validity of reopening assessments based on the Companies Act. The Tax Case Appeal was disposed of with no costs awarded. Case-Laws Income Tax Wed, 23 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208196