https://www.taxtmi.com/caselaws?id=176807 Whether the proviso to Section 13 applies where contract accounts are kept on a completed-contract basis and do not disclose true profits: the proviso permits the tax officer to determine the basis and manner of computation when no regular accounting method is employed or the employed method prevents proper deduction of income; each previous year is a separate assessment unit requiring ascertainment of profits for that year; recognised commercial methods (valuing work in progress and estimating profit on completed portions) enable yearly profit ascertainment; consequence: the proviso applies and the officer may compute profits by estimate. en-us Mon, 13 Sep 1954 00:00:00 +0530 Tue, 29 Dec 2015 12:52:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176807 Whether the proviso to Section 13 applies where contract accounts are kept on a completed-contract basis and do not disclose true profits: the proviso permits the tax officer to determine the basis and manner of computation when no regular accounting method is employed or the employed method prevents proper deduction of income; each previous year is a separate assessment unit requiring ascertainment of profits for that year; recognised commercial methods (valuing work in progress and estimating profit on completed portions) enable yearly profit ascertainment; consequence: the proviso applies and the officer may compute profits by estimate. Case-Laws Income Tax Mon, 13 Sep 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176807