https://www.taxtmi.com/caselaws?id=13016 A genuine hybrid system of accounting is permissible, so an assessee may adopt the cash basis for specified items such as interest and rent receivable while retaining the mercantile basis for other items. The method cannot be disallowed merely because it reduces revenue in a particular year. On that principle, the assessee was held entitled to change the accounting treatment for the specified receivables, and the question was answered in favour of the assessee and against the Revenue. en-us Thu, 16 Aug 2001 00:00:00 +0530 Mon, 25 May 2009 18:40:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13016 A genuine hybrid system of accounting is permissible, so an assessee may adopt the cash basis for specified items such as interest and rent receivable while retaining the mercantile basis for other items. The method cannot be disallowed merely because it reduces revenue in a particular year. On that principle, the assessee was held entitled to change the accounting treatment for the specified receivables, and the question was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Thu, 16 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13016