https://www.taxtmi.com/caselaws?id=13451 The court ruled in favor of the assessee, allowing the change in the method of accounting for additional finance charges. The court emphasized the change was bona fide and necessary to reflect the true income, citing previous Supreme Court and High Court rulings. The Tribunal's decision to reverse factual findings was criticized for lacking a sufficient basis, and the Revenue failed to demonstrate any loss due to the change. The court held that the assessee was entitled to change the method of accounting based on the agreement terms. No costs were awarded in the case. en-us Thu, 18 Jan 2007 00:00:00 +0530 Fri, 29 May 2009 10:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13451 The court ruled in favor of the assessee, allowing the change in the method of accounting for additional finance charges. The court emphasized the change was bona fide and necessary to reflect the true income, citing previous Supreme Court and High Court rulings. The Tribunal's decision to reverse factual findings was criticized for lacking a sufficient basis, and the Revenue failed to demonstrate any loss due to the change. The court held that the assessee was entitled to change the method of accounting based on the agreement terms. No costs were awarded in the case. Case-Laws Income Tax Thu, 18 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13451