https://www.taxtmi.com/caselaws?id=213025 The Supreme Court upheld the Revenue's computation of the assessee's income from finance charges, emphasizing that the method of accounting consistently adopted by the taxpayer should be considered for tax purposes. The Court ruled that the finance charges recognized in the books represented real income accrued to the assessee, affirming the decision of the Tribunal. The issue regarding the loss claimed on account of revaluation of shares was not considered in the appeal, and the appeal was ultimately dismissed with no order as to costs. en-us Tue, 07 Feb 2012 00:00:00 +0530 Fri, 28 Jun 2013 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213025 The Supreme Court upheld the Revenue's computation of the assessee's income from finance charges, emphasizing that the method of accounting consistently adopted by the taxpayer should be considered for tax purposes. The Court ruled that the finance charges recognized in the books represented real income accrued to the assessee, affirming the decision of the Tribunal. The issue regarding the loss claimed on account of revaluation of shares was not considered in the appeal, and the appeal was ultimately dismissed with no order as to costs. Case-Laws Income Tax Tue, 07 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213025