https://www.taxtmi.com/caselaws?id=171949 The High Court upheld the Tribunal's decision in favor of the assessee, stating that the method of accounting for income from contract business was justified and consistent. The Court declined to interfere, emphasizing the long-standing practice of the assessee and industry acceptance. Additionally, the Court ruled in favor of the assessee regarding the deduction of provision for gratuity, citing precedent and rejecting the Revenue's position. No costs were awarded in the case. en-us Sun, 19 Sep 1993 00:00:00 +0530 Sat, 17 Sep 2016 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171949 The High Court upheld the Tribunal's decision in favor of the assessee, stating that the method of accounting for income from contract business was justified and consistent. The Court declined to interfere, emphasizing the long-standing practice of the assessee and industry acceptance. Additionally, the Court ruled in favor of the assessee regarding the deduction of provision for gratuity, citing precedent and rejecting the Revenue's position. No costs were awarded in the case. Case-Laws Income Tax Sun, 19 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171949