https://www.taxtmi.com/caselaws?id=273154 Where an assessee does not maintain a regular and consistent system of accounting, income may be computed on the basis justified by the books and surrounding circumstances, including accrual treatment under the mercantile method or actual receipts under the cash method. On the facts noted, interest credited to debtors' accounts could be included in assessable income despite non-receipt in cash during the year because the books reflected a hybrid and unreliable system, making the department's computation sustainable under the proviso to Section 13 of the Income-tax Act, 1922. The text also states that an Income-tax Officer may call for accounts older than three years when needed for a truthful enquiry into the return, and that the proviso to Section 22(4) does not impose an absolute bar. en-us Thu, 08 Mar 1945 00:00:00 +0630 Fri, 08 Jun 2018 17:27:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273154 Where an assessee does not maintain a regular and consistent system of accounting, income may be computed on the basis justified by the books and surrounding circumstances, including accrual treatment under the mercantile method or actual receipts under the cash method. On the facts noted, interest credited to debtors' accounts could be included in assessable income despite non-receipt in cash during the year because the books reflected a hybrid and unreliable system, making the department's computation sustainable under the proviso to Section 13 of the Income-tax Act, 1922. The text also states that an Income-tax Officer may call for accounts older than three years when needed for a truthful enquiry into the return, and that the proviso to Section 22(4) does not impose an absolute bar. Case-Laws Income Tax Thu, 08 Mar 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=273154