https://www.taxtmi.com/caselaws?id=336028 The Court ruled in favor of the assessee on the interpretation of accounting methods for finance charges and the permissibility of using different accounting systems for different laws. However, the addition of provision for bad debts while computing book profits was decided in favor of the Revenue. The disallowance of long-term capital loss on share sale was not upheld, as the Court found the assessee's valuation of shares to be justified, emphasizing the need for substantiated explanations in such cases. The judgment provided detailed analysis on these issues, emphasizing the importance of factual evidence in tax assessments and legal interpretations. en-us Tue, 15 Nov 2016 00:00:00 +0530 Wed, 14 Dec 2016 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336028 The Court ruled in favor of the assessee on the interpretation of accounting methods for finance charges and the permissibility of using different accounting systems for different laws. However, the addition of provision for bad debts while computing book profits was decided in favor of the Revenue. The disallowance of long-term capital loss on share sale was not upheld, as the Court found the assessee's valuation of shares to be justified, emphasizing the need for substantiated explanations in such cases. The judgment provided detailed analysis on these issues, emphasizing the importance of factual evidence in tax assessments and legal interpretations. Case-Laws Income Tax Tue, 15 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336028