https://www.taxtmi.com/caselaws?id=181852 An assessee's consistently followed accounting method for taxing film receipts on release was accepted as a proper basis for computing income where it had been recognised in earlier and later years and no material showed distortion of taxable income. The Tribunal held that the method correctly reflected income attributable to completed pictures, and the Assessing Officer could not substitute a different basis merely because another view was preferred. The court upheld that approach and found no justification for rejecting an accepted accounting practice that enabled proper deduction of real taxable income. en-us Thu, 22 Nov 2001 00:00:00 +0530 Tue, 26 Apr 2016 14:25:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181852 An assessee's consistently followed accounting method for taxing film receipts on release was accepted as a proper basis for computing income where it had been recognised in earlier and later years and no material showed distortion of taxable income. The Tribunal held that the method correctly reflected income attributable to completed pictures, and the Assessing Officer could not substitute a different basis merely because another view was preferred. The court upheld that approach and found no justification for rejecting an accepted accounting practice that enabled proper deduction of real taxable income. Case-Laws Income Tax Thu, 22 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181852