https://www.taxtmi.com/caselaws?id=343103 The court upheld the Tribunal's decision, disallowing the applicant's mid-year switch to the cash system of accounting for commission income from a specific source. The court found the switch unjustified and potentially leading to inconsistencies and tax issues. Consequently, the applicant was held liable for interest under section 215 due to the incorrect computation of advance tax resulting from the impermissible accounting system change. The final judgment favored the Revenue, affirming the disallowance of the mid-year switch and upholding the interest liability under section 215. en-us Wed, 24 Aug 2016 00:00:00 +0530 Fri, 19 May 2017 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343103 The court upheld the Tribunal's decision, disallowing the applicant's mid-year switch to the cash system of accounting for commission income from a specific source. The court found the switch unjustified and potentially leading to inconsistencies and tax issues. Consequently, the applicant was held liable for interest under section 215 due to the incorrect computation of advance tax resulting from the impermissible accounting system change. The final judgment favored the Revenue, affirming the disallowance of the mid-year switch and upholding the interest liability under section 215. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343103