https://www.taxtmi.com/caselaws?id=189991 A bona fide change from mercantile to cash basis for export cash assistance was accepted where it was made to avoid genuine accounting difficulties and to reflect true profits, and the Act did not bar such a change for a single receipt item. The note also records that, on similar facts, a deed of hypothecation trust as modified by a supplementary deed was treated as creating a valid charge or mortgage. It further notes that no disallowance survived under section 40A(8) in respect of part of the interest on fixed deposits from the public, with all issues resolved in favour of the assessee. en-us Mon, 10 Dec 2001 00:00:00 +0530 Mon, 30 Jan 2017 16:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189991 A bona fide change from mercantile to cash basis for export cash assistance was accepted where it was made to avoid genuine accounting difficulties and to reflect true profits, and the Act did not bar such a change for a single receipt item. The note also records that, on similar facts, a deed of hypothecation trust as modified by a supplementary deed was treated as creating a valid charge or mortgage. It further notes that no disallowance survived under section 40A(8) in respect of part of the interest on fixed deposits from the public, with all issues resolved in favour of the assessee. Case-Laws Income Tax Mon, 10 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189991