https://www.taxtmi.com/caselaws?id=219882 The High Court upheld the Tribunal's decision to allow deductions for cash-based expenditure during the transition period when the assessee switched from the cash to the mercantile system of accounting due to statutory compulsion. The court emphasized the necessity to consider cash payments in the assessment year to enable deductions for cash-based expenses, rejecting the Revenue's appeal and affirming the Tribunal's order without costs. en-us Tue, 11 Sep 2012 00:00:00 +0530 Mon, 31 Dec 2012 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219882 The High Court upheld the Tribunal's decision to allow deductions for cash-based expenditure during the transition period when the assessee switched from the cash to the mercantile system of accounting due to statutory compulsion. The court emphasized the necessity to consider cash payments in the assessment year to enable deductions for cash-based expenses, rejecting the Revenue's appeal and affirming the Tribunal's order without costs. Case-Laws Income Tax Tue, 11 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219882