https://www.taxtmi.com/caselaws?id=173800 The commentary explains that a regular accounting method for valuing film stock may be rejected under the proviso to section 13 of the Income-tax Act if it does not disclose true profits. It notes that an assessment method must reflect the film's actual earning pattern, including the period of exhibition and relevant collections, rather than applying a rigid accounting or time-based formula. It also states that any substitute method adopted by the revenue must reasonably approximate real profits and cannot ignore material earning data by using an inflexible mechanical rule. en-us Fri, 06 Dec 1957 00:00:00 +0530 Tue, 22 Sep 2015 17:15:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173800 The commentary explains that a regular accounting method for valuing film stock may be rejected under the proviso to section 13 of the Income-tax Act if it does not disclose true profits. It notes that an assessment method must reflect the film's actual earning pattern, including the period of exhibition and relevant collections, rather than applying a rigid accounting or time-based formula. It also states that any substitute method adopted by the revenue must reasonably approximate real profits and cannot ignore material earning data by using an inflexible mechanical rule. Case-Laws Income Tax Fri, 06 Dec 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173800