https://www.taxtmi.com/caselaws?id=219347 The ITAT ruled in favor of the assessee, setting aside the CIT (A) decision and directing the AO to delete the additions made in both years. The ITAT emphasized that the chosen method of accounting must be accepted unless it does not reflect true income, rejecting the revenue authorities' approach of substituting the accounting method and estimation. The appeals were allowed, ultimately ruling in favor of the assessee. en-us Wed, 25 Jul 2012 00:00:00 +0530 Mon, 10 Dec 2012 06:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219347 The ITAT ruled in favor of the assessee, setting aside the CIT (A) decision and directing the AO to delete the additions made in both years. The ITAT emphasized that the chosen method of accounting must be accepted unless it does not reflect true income, rejecting the revenue authorities' approach of substituting the accounting method and estimation. The appeals were allowed, ultimately ruling in favor of the assessee. Case-Laws Income Tax Wed, 25 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219347