https://www.taxtmi.com/caselaws?id=189991 A bona fide shift from mercantile to cash accounting for export cash assistance may be adopted for a particular receipt where it resolves genuine accounting difficulties, more accurately reflects true profits, and is not prohibited by the Income-tax Act. A deed of hypothecation trust, read with its supplementary deed, may create a valid charge or mortgage where the applicable requirements are met. Interest on fixed deposits received from the public may not attract disallowance under section 40A(8) where the governing legal position excludes it. These principles support recognition of genuine accounting treatment and valid security arrangements for tax purposes. 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 shift from mercantile to cash accounting for export cash assistance may be adopted for a particular receipt where it resolves genuine accounting difficulties, more accurately reflects true profits, and is not prohibited by the Income-tax Act. A deed of hypothecation trust, read with its supplementary deed, may create a valid charge or mortgage where the applicable requirements are met. Interest on fixed deposits received from the public may not attract disallowance under section 40A(8) where the governing legal position excludes it. These principles support recognition of genuine accounting treatment and valid security arrangements for tax purposes. Case-Laws Income Tax Mon, 10 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189991