https://www.taxtmi.com/caselaws?id=250976 The appellant's selective adoption of cash and mercantile systems in income tax returns was deemed inappropriate by the court. The court clarified that tax liability under the cash system arises only upon actual receipt of income. The appellant's attempt to claim the benefit of Tax Deducted at Source (TDS) without reflecting interest income was rejected. The court emphasized that unadjusted TDS amount should be treated as income under Section 198. The judgment underscores the necessity of consistent application of tax systems and proper handling of interest income and TDS implications in income tax assessments. en-us Wed, 06 Aug 2014 00:00:00 +0530 Tue, 05 May 2015 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250976 The appellant's selective adoption of cash and mercantile systems in income tax returns was deemed inappropriate by the court. The court clarified that tax liability under the cash system arises only upon actual receipt of income. The appellant's attempt to claim the benefit of Tax Deducted at Source (TDS) without reflecting interest income was rejected. The court emphasized that unadjusted TDS amount should be treated as income under Section 198. The judgment underscores the necessity of consistent application of tax systems and proper handling of interest income and TDS implications in income tax assessments. Case-Laws Income Tax Wed, 06 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250976