https://www.taxtmi.com/caselaws?id=14806 The case revolved around discrepancies in reflecting subsidies receivable for specific months, allegations of concealment of income, and assessment of subsidies at revised rates. The court upheld the conclusions of the Commissioner of Income-tax (Appeals) and Tribunal, emphasizing accurate subsidy reporting and adherence to the mercantile system of accounting. The judgment highlighted the importance of following accounting principles and dismissed the appeal, affirming the tax authorities' justifications and the non-sustainability of the Assessing Officer's additions. en-us Thu, 13 Jul 2000 00:00:00 +0530 Sat, 18 Jul 2009 17:18:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14806 The case revolved around discrepancies in reflecting subsidies receivable for specific months, allegations of concealment of income, and assessment of subsidies at revised rates. The court upheld the conclusions of the Commissioner of Income-tax (Appeals) and Tribunal, emphasizing accurate subsidy reporting and adherence to the mercantile system of accounting. The judgment highlighted the importance of following accounting principles and dismissed the appeal, affirming the tax authorities' justifications and the non-sustainability of the Assessing Officer's additions. Case-Laws Income Tax Thu, 13 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14806