https://www.taxtmi.com/caselaws?id=370998 HC held for revenue: an assessee cannot selectively apply mercantile accounting for some projects and cash accounting for another; Section 145(1) requires use of either cash or mercantile system regularly, so income must be computed on accrual (mercantile) not actual receipts. The Tribunal was correct to disallow the departure. The court found the assessee had validly assigned rights and never disputed entitlement to consideration, so receipts accrued despite earlier statutory restraints; matter decided against the assessee. en-us Mon, 19 Nov 2018 00:00:00 +0530 Mon, 06 Oct 2025 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370998 HC held for revenue: an assessee cannot selectively apply mercantile accounting for some projects and cash accounting for another; Section 145(1) requires use of either cash or mercantile system regularly, so income must be computed on accrual (mercantile) not actual receipts. The Tribunal was correct to disallow the departure. The court found the assessee had validly assigned rights and never disputed entitlement to consideration, so receipts accrued despite earlier statutory restraints; matter decided against the assessee. Case-Laws Income Tax Mon, 19 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370998