https://www.taxtmi.com/caselaws?id=12776 The Tribunal's decision to allow the change in the accounting system from mercantile to hybrid for assessing interest income was upheld. The court found the change to be legitimate and in compliance with the Income Tax Act, emphasizing that the term "regularly" does not mandate permanency in the accounting method. As the assessee had valid reasons for the change and implemented it in good faith, the Revenue's appeal was dismissed, affirming the Tribunal's ruling in favor of the assessee. en-us Thu, 14 Feb 2002 00:00:00 +0530 Thu, 21 May 2009 19:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12776 The Tribunal's decision to allow the change in the accounting system from mercantile to hybrid for assessing interest income was upheld. The court found the change to be legitimate and in compliance with the Income Tax Act, emphasizing that the term "regularly" does not mandate permanency in the accounting method. As the assessee had valid reasons for the change and implemented it in good faith, the Revenue's appeal was dismissed, affirming the Tribunal's ruling in favor of the assessee. Case-Laws Income Tax Thu, 14 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12776