https://www.taxtmi.com/caselaws?id=243641 The Tribunal dismissed all three appeals of the Revenue, upholding the CIT(A)'s decisions. It affirmed the cash system of accounting followed by the assessee as acceptable under S.145(1) of the Act, making brokerage income offered for tax on a cash basis liable for tax. The allowance of insurance expenses under S.37(1) of the Act was also upheld, recognizing the assessee's responsibility as a del cre dere agent. en-us Mon, 03 Feb 2014 00:00:00 +0530 Thu, 06 Feb 2014 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243641 The Tribunal dismissed all three appeals of the Revenue, upholding the CIT(A)'s decisions. It affirmed the cash system of accounting followed by the assessee as acceptable under S.145(1) of the Act, making brokerage income offered for tax on a cash basis liable for tax. The allowance of insurance expenses under S.37(1) of the Act was also upheld, recognizing the assessee's responsibility as a del cre dere agent. Case-Laws Income Tax Mon, 03 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243641