https://www.taxtmi.com/caselaws?id=354769 The Court upheld the decision of the Tribunal, dismissing the appeal challenging the taxation of license fees under the mercantile accounting system. It was determined that the respondent's method of accounting, consistent with the mercantile system, accurately reflected the income chargeable to tax. The Court emphasized that the dispute raised by the Revenue was not substantial and would not impact taxability or tax collection. Therefore, the appeal was dismissed, affirming the acceptability of the respondent's accounting method. en-us Mon, 22 Jan 2018 00:00:00 +0530 Sat, 03 Feb 2018 08:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354769 The Court upheld the decision of the Tribunal, dismissing the appeal challenging the taxation of license fees under the mercantile accounting system. It was determined that the respondent's method of accounting, consistent with the mercantile system, accurately reflected the income chargeable to tax. The Court emphasized that the dispute raised by the Revenue was not substantial and would not impact taxability or tax collection. Therefore, the appeal was dismissed, affirming the acceptability of the respondent's accounting method. Case-Laws Income Tax Mon, 22 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354769