https://www.taxtmi.com/caselaws?id=208799 The Tribunal allowed the assessee's appeals, rejecting the revenue's appeals. It emphasized accepting the method of accounting employed by the assessee unless proven unreasonable, stressing the importance of consistency and clear reasons for rejecting books of accounts. The Tribunal upheld the assessee's estimation of income, valuation of work-in-progress, and treatment of unsecured loans, citing compliance with accounting standards and judicial precedents. The decisions highlighted the burden of proof shifting to the department once the assessee provided sufficient details, ensuring a fair resolution based on established principles. en-us Fri, 22 Jan 2010 00:00:00 +0530 Wed, 11 Jan 2012 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208799 The Tribunal allowed the assessee's appeals, rejecting the revenue's appeals. It emphasized accepting the method of accounting employed by the assessee unless proven unreasonable, stressing the importance of consistency and clear reasons for rejecting books of accounts. The Tribunal upheld the assessee's estimation of income, valuation of work-in-progress, and treatment of unsecured loans, citing compliance with accounting standards and judicial precedents. The decisions highlighted the burden of proof shifting to the department once the assessee provided sufficient details, ensuring a fair resolution based on established principles. Case-Laws Income Tax Fri, 22 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208799